Quicker, Better, Cheaper

Optimising the Close process

The financial Close process (often referred to as the Record to Report process) has always posed challenges for accountants because, despite the continuing automation of accounting tasks, there will always be things that have to be done manually, and this is where they happen.

The Close primarily two continuing challenges

  • How does one manage the myriad of tasks that have to be done and, especially, how do you know there are problems in the Close before it is too late?
  • How do you continuously improve the process to minimise the time that your team spend processing work so that they can spend more time on adding value?

Continuous improvement is best done using Lean 6 Sigma – click here to read more about Lean Finance.

Managing the Close process tasks is most often done using Excel and a project manager but there is now a much better way – click here to read more about how to manage the close better.