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Virtualizing the Close

Achieving Speed, Resiliency and Integrity

Virtual Accounting for Speed and Resilience

Any crisis—whether internal to the organization or external—imposes economic stresses on organizations and creates hurdles for employees who may be challenged by circumstances to work productively and complete necessary tasks in a timely fashion. Such stresses test the resiliency and adaptability of the finance and accounting department and its ability to sustain confidence in the accuracy and control of accounting processes.

“Virtual accounting” is an approach that enables the department to achieve speed and resilience without sacrificing accuracy and control under difficult circumstances. Virtual accounting has three main characteristics:

 
 

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