Finance process improvement
The Financial Close Process (FCP) is a discrete activity within the finance function and is the driver of month-end and year-end reporting. The demand for timely, accurate, reliable and transparent financial information has never been higher on the agenda of both shareholders and regulators; however there is a risk that reporting processes have not kept up with:
- Levels of M&A activity
- The rate of change of legislation, including Accounting Standards
- Increasingly complex business models
- Tax strategies and globalisation
- The increasing demand for information and knowledge.
The result is a system of finance processes that have evolved rather than being purpose-built. This typically has an adverse impact on costs and risk and undermines the critical role that finance plays in supporting the commercial objectives of the business.
An efficient Financial Close Process (FCP) can have a significant impact on the drivers of shareholder value. Our team has developed a series of services in response to those particular needs including:
- Training workshops
- Secondments in times of resource shortages
- End-to-end analysis of the close process to identify inefficiencies and duplication of effort.
Contact us to discuss how we can assist your team and make the FCP process more transparent and efficient.