Close Automation Software: How Technology can improve the Financial Close

The monthly close is an efficiency challenge for companies of every shape and size, not least because it demands the time and attention of accounting teams, increases individual pressure on employees and controllers, and delays other critical or value-adding tasks.

The challenges of the financial close typically stem from a reliance on outdated manual processes, including the use of Excel spreadsheets to track and manage critical tasks, the late submission of reports from external providers, and a lack of visibility into the impact of delays on the overall close deadline. So, how can technology help solve this?

This guide explores:

• What is a Close Automation Software, and what are the benefits of modernising your Close.

• Key Close inefficiencies, and how close software applications can help accounting teams resolve them.

• How to automate your Financial Close processes to free up time for employees to work on more strategic, value-adding tasks.