A world class Financial Close process is dependent on accounting department’s ability to provide accurate, quantitative and qualitative financial information. In order to deliver under the pressure of often increasingly tight deadlines, two things are essential; modern systems and solid processes.
The process starts where the ERP transactions posting ends and is often referred to as Record to Report (R2R) process. A lean quality close is generally defined as a cost effective process (more quickly, for less money and with fewer people), which is achievable with a standardized risk based approach, where the procedures are described and there is a transparency for all involved in the process.
Adra´s Financial Close Management Solution
Structured process – Define a standardized Financial Close process across your organization. Use workflow with business-driven rules, enforce the segregation of duties control, communicate and obtain certifications of adherence to policies and procedures ensures regulatory compliance.
Control – Who does what and when, with a full audit trail. Be certain to comply with documentation of internal control tasks and accounting regulations. Get real-time overview across departments and countries.
Efficiency – Close faster and increase efficiency, Adra’s cloud-based solution with automated controls and ERP integrations keeps you focus on the right things. Stay on top of your progress with real-time alerts and Dashboards to optimize the close process.
Products in Adra´s Financial Close Management Suite
Manage any task list or processes, monitor and streamline as you go. Allocate responsibility, document policies and procedures and ensure that no activity is ever missed. Read more.
Balance Sheet Account reconciliation, no more binders or spreadsheets. One centralized platform for a standardized reconciliation template for your entire organization. Read more.
Automate matching of transaction-intense accounts, such as Bank accounts, Credit/debit cards, accruals, intercompany or interim accounts. Read more.
Integrate your ERP to auto upload Account Balances, sub-ledger balances, transactions and more. Integrates with SAP, Oracle, NetSuite or any other ERP System.