Ensuring Your FP&A Team Is Efficient And Effective

Do you need a finance function transformation?

Many organisations do not utilize their FP&A teams to optimal effect. A recent survey found the average finance department spent only 26% of its time on driving actions and insights, wasting time, money and skills. Further, even when key actionable data is provided, nearly half (44%) of companies do not use it in their strategic decision-making process.

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Happily Ever After - Achieving a Fairy Tale Month-End Close

Why Focus on the Month-End Close?

On average, it takes companies 8 working days to close the books each month, and 10 working days to close each quarter. That’s 40% to 50% of our working month spent finalizing the financials. Shouldn’t those 8 to 10 days be just as joyful, or perhaps just not as awful, as the rest of the month?

Well, Happily Ever After doesn’t just happen, except of course, in fairy tales. Hard work alone is not enough. A month-end close that achieves a fairy tale ending is forged through discipline, teamwork, and the right tools. From the thousands of accountants we have spoken with, we consistently observe several themes that seem to live on in accounting groups that close efficiently and effectively month after month.

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