Financial Close

The financial close and consolidation process includes importing data, mapping general ledgers to a single chart of accounts, normalising the consolidated data and producing reports called consolidated financial statements.

Over the last decade, the financial reporting landscape has seen significant change.

In today’s climate, there is a competing demand for improved financial control and increased transparency and reliability of data.

Additionally, on-going regulatory initiatives such as the move to International Financial Reporting Standards (IFRS) as the reporting standard format and the pace of regulatory change also continues to increase as a result of the current economic challenges.

  • Are you being pressured to increase the accuracy of financial reporting while decreasing turnaround / cycle time?
  • Are the new international financial reporting standards (IFRS) giving you a headache?
  • Are your costs being scrutinised as a result of recessionary budgets?
  • With limited resources, how can finance organisations deliver accurate, real-time data?
  • What are the best practices to follow in order to streamline processes; while meeting regulatory obligations?