The Financial Close: Optimizing Performance and Driving Financial Excellence
The term "financial close" describes a corporation's ability to complete its accounting cycles and produce financial statements for internal management and external legal reporting. The require ment to close books quickly and with quality is emerging again as an important project for today's global finance function.
Why is it important for corporations to close their books quickly and with quality? Closing fast enables quicker access to financial information, which gives management the foundation for timely and better-informed planning and decision making.
In this white paper, we discuss how corporate finance centers can overcome the barriers to a fast, high-quality close. By converging previously disparate disciplines of business intelligence; governance, risk, and compliance; and enterprise performance management, companies can get trusted data into the hands of key stakeholders in a timely manner.