ENTERPRISE PERFORMANCE MANAGEMENT
Improve accuracy and speed with financial closing automation through Record to Report (R2R).
Automating the financial close is crucial for R2R practices that help increase efficiency and minimize the risk of errors and financial discrepancies.
Minimize the risk of errors and fraud by implementing an efficient R2R cycle and improving financial transparency.
- Account reconciliation: Ensure that account balances match the accounting records and bank statements, identifying and correcting discrepancies.
- Review and adjustment of journal entries: Verify the accuracy of entries and make the necessary adjustments to reflect correct and complete transactions.
- Preparation of financial statements: Generate accurate and complete financial reports, including balance sheet, income statement and cash flow statement.
- Variance analysis: Identify and explain significant differences between current financial results and budgeted or historical figures.
- Documentation and filing: Maintain detailed records of all activities and adjustments made during the financial close for future audits and reviews.
Free yourself from regulatory pressure with transparent financial reporting that meets local and international standards
- Flawless Compliance With Global Accounting Standards: Our solutions ensure your financial reports meet IFRS and US GAAP requirements, delivering accuracy and comparability that stakeholders trust.
- Financial risk management: Identify and mitigate risks associated with incorrect or misleading reporting.
- Internal and external audits: Prepare for periodic audits that assess the integrity and accuracy of financial statements.
- Training and staff development: Equip your accounting team with up-to-date skills and knowledge to meet regulatory and performance expectations.
Ensure consistency of financial data across different systems and correct discrepancies
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Variation in recording methods: Differences in how transactions are recorded in different accounting systems can complicate reconciliation.
- Intercompany transactions: Reconciling balances between different entities within the same business group can be complicated due to variations in currencies and exchange rates.
- Need for periodic reconciliations: Perform frequent and timely reconciliations to prevent the accumulation of discrepancies that could affect the accuracy of financial reports.
Ensure the accuracy of your final financial statements with journal entries that reflect revenues, expenses, assets, and liabilities in the accounting records.
- Transaction complexity: Complex transactions such as mergers, acquisitions, or restructurings that require detailed and accurate accounting.
- Review and approval: Ensure that all entries are properly reviewed and approved before being included in the financial records.
- Consistency: Maintain consistency and uniformity in the classification and coding of transactions to facilitate auditing and analysis.
- Control: Implement automated systems and controls to reduce errors and streamline the data entry process.
- Human errors: The introduction of human errors when manually entering data into the accounting system.
Address the Record to Report process comprehensively.
Adopting a holistic approach is the most effective way to ensure the accuracy of your finances.
Faster and more reliable close
Gain visibility and streamline your financial close with a robust control system.
Integration with third-party systems.
Work with an agnostic platform compatible with multiple ERPs
Reduce manual effort.
Reduce the time spent on repetitive tasks in each financial cycle.
Everything make sense with the right software
We are strategic partners of the creators of the most popular and effective financial and accounting management software in the market.
