A recent survey carried out by Protiviti, an American leading consulting firm, shows that streamlining the financial close process is Finance second highest rated focus area 2014.
This includes everything from improving the period-end close process and account reconciliations to financial consolidation process. Within these areas, Finance wants to achieve greater efficiency and is committed to leveraging the efficiency gains to increase the resources they allocate to more strategic activities.
Survey key findings regarding Financial Transactions:
Finance continues to invest in process improvement and optimization. There is a strong desire to streamline transactional activities, such as period-end close and the account reconciliation and consolidation processes it includes as efficiently as possible. This work encompasses ongoing process improvements and the automation of manual processes.