5 Steps to Continuous Accounting – a Modern Approach to Closing the Books
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Finance is shifting from traditional, manual accounting processes to more automated, flexible, cloud-based systems.
And yet, manual processes* are still the #1 roadblock, with much of the resource tied up at the end of the accounting period.
Traditionally built for rigid systems that didn’t integrate easily with general ledgers or provide accurate visibility into the chart-of-accounts, R2R's 'start-stop' approach tends to manifest problems that significantly impact the business. And as a linear process, results are produced at the end of a given period – a month, a quarter, or a year. By the time these results are in, the information is out of date.
The Solution: Continuous Accounting
Continuous Accounting shifts traditional end-of-period tasks to day-to-day activities, so that instead of waiting for the financial close to gain visibility into financial results, every instant provides a clear picture.
This ebook, The Modern Approach to Closing the Books, lists 8 transformational benefits of Continuous Accounting – and helps you get there is 5 key steps.
Download your copy below.
* According to a survey by The Hackett Group, 70% of practitioners say manual processes are the prime source of bottlenecks