Current accounting closings are too time-consuming. Closings are too document dependent. Technology is not maximized. Many activities are being accomplished remotely. COVID-19 has amplified these conditions and made the closing process even more difficult. Companies must find a way to conduct closing activities with efficiency in terms of both time and accuracy. This Webinar will outline ways to improve the closing process in a technology-based environment. These items will be covered:
To understand how to conduct efficient closings in an environment where many activities are accomplished remotely and currently in an environment of document-driven manual processes independent of each other. Companies must re-imagine the entire closing process and conduct it in an environment that is data vs document-driven and the maximum use of technology. The theme is Automate to Activate for efficient closing. Move from manual efforts to interactive processes.
Accounting is often called a series of closing the books.
Timeliness in closing the books is key and typically takes too long. Automation through integrated technology is the key to quick efficient accounting close. COVID-19 has destroyed traditional business norms. Many finance & accounting-related functions & activities are being done remotely. This poses a challenge in the monthly and quarterly closing process. Attendees with a takeaway: