How to Overcome the Challenges of Close & Consolidation

Nothing moves as quickly as the world of financial departments: On the one hand, the scope and complexity of national and international accounting regulations are on the increase, while on the other hand, deadlines for the preparation, auditing and provisioning of quarterly, annual and consolidated financial statements are getting tighter.

When financial statements are due, countless hours of overtime are frequently dedicated to ensuring internal and external requirements are met. The time enterprises spend on financial statements is often far too long: reasons for this include inefficient structures and processes within the company and a lack of software solutions that make the automation of consolidation, planning, reporting and analysis possible.

But if you use the right software, the effort you currently spend on consolidation, planning and reporting will reduce significantly. CFOs will benefit from being able to access consistent and reliable numbers while also saving a significant amount of time.

Contents of this e-Book

• The challenges
  • Time-consuming manual processes
  • Media disruption due to a patchwork of systems
  • Lack of an integrated reporting process
• Checklist: The challenges that suggest you need a consolidation solution
• The solution: Rapid preparation of consolidated financial statements by using the right software