There is plenty of literature out there focusing on streamlining the financial close and achieving greater efficiency – the fast close. While it remains a common goal amongst the Finance and Accounting community, how would the approach differ if we changed the focus from how fast to how much value can be created as part of the financial close – the intelligent close?
Account Reconciliations remains an integral part of the financial close, primarily to provide confidence (reducing risk, stronger internal controls) in the financial information used to produce consolidated financial reports – mostly for statutory reporting purposes. Yet, many organizations still rely upon spreadsheets to complete this important task which is prone to keying error, requires iterative checks throughout the close, increases institutional knowledge risk, difficult to scale, cannot be readily leveraged for driving deeper analytics.
The goals of our webinar series “Unlock Value from Account Reconciliations” is to:
- Identify where value can be unlocked from Account Reconciliations – creating the business case for changing status quo
- Show how technology can be better leveraged by Finance and Accounting to unlocking this value
- Take a closer look at technology in action (e.g., Oracle Account Reconciliation Cloud – OARCS, OneStream Account Reconciliation MarketPlace solution, Blackline Reconciliations, etc.)