A recent article by Jay Humphries, Senior Pre-Sales Practice Manager for Teradata, discusses the value of aligning people, processes and technology to reduce accounting and reporting close times - resulting in reduced risk and business insight.
In finance and accounting departments in companies across the world, shortening the monthly/quarterly/yearly close cycle is a constant goal that often seems to be a moving target.
Like Humphries, we’ve found that implementing point solutions that just address ‘of the moment challenges’ is not a long-term fix. Looking holistically at your finance infrastructure and processes can not only lead to shortened close times but also provide you more accurate, detailed and timely data to drive business decision making.
Below are some examples of how we helped our customers tackle the types of issues raised in the article:
- A large North American bank used the Aptitude Accounting Hub to enable a daily close, giving them the near real-time information they needed and shortening monthly close cycles and internal/external reporting generation.
- A leading European bank used a finance engine from Aptitude Software to significantly reduce the time and cost of capital and liquidity reporting while gaining more insight from their data.
The stakes are high for CFOs who don’t align the people, processes and technology to meet their current and future finance and accounting needs.
Read the full article on Forbes Business
Looking for more information on how you can simplify your accounting and reporting processes? Aptitude Software’s ebook presents our views on finance transformation. We’re always keen to discuss new finance requirements with new finance or finance IT leaders. Get in touch with us at firstname.lastname@example.org