We understand companies face many challenges with the financial close and reporting process. The Last Mile of Finance covers the processes and activities in between the trial balance and a company's 10K. This can be a problematic area for some organizations. The management reporting and governance issues — including financial and internal control failures — often occur in the last mile of finance. These factors result not only in significant inefficiencies, but also financial errors and internal control failures.
Our experience indicates that companies need to adopt a holistic approach to last mile of finance. The strategy involves a road map for improvement to address the process, the policy, the people, and the technology issues, and how they successfully work together to improve the efficiency, governance, and quality of your financial reporting and close.