Manual processing bottlenecks within the Financial Period Close process can significantly reduce its efficiency and effectiveness in many organizations. A sub-optimal Close can cause a number of business issues to surface. Human intervention results in data entry and execution errors, and often in costly recovery efforts. An unreliable financial close delays information reaching executives, postponing key business decisions. Technical and functional employees spend a disproportionate amount of time getting existing processes to work, correcting errors and “baby sitting” processing.
20 Oct 2008