Optimising the Close
Close is all about speed, accuracy, efficiency and adaptability
Today’s complex business world - with economic uncertainty, fierce competition and demanding customers - requires more and more accurate, reliable and timely information on your own position.
Optimising the close is the continuous process of improving and reducing time spent closing books and publishing financials. Information has an expiry date: the older the information, the less significant it is.
Therefore companies are under increasing pressure to deliver more qualitative and transparent information in shorter time intervals.
A fast close, for example, improves and accelerates the closing process, whereas the end-products remain the same. Those end-products are beside the reports for the internal decision-making also the external reporting.
Deloitte experience offers the advantage of a well-structured framework. This gives on one hand an overview of possible issues with the steps of the closing process, and on the other the adequate best practice solutions.
These solutions always appear to be variants of three recurrent themes:
- Clear and well-defined roles and responsibilities
- Streamlined and integrated processes
- Underlying tool that supports these processes
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