How do your reporting and close processes compare to your peers?
Studies have shown that top performing firms spend significantly less to report without sacrificing quality or compliance. In fact, we have found that companies with efficient close processes can reduce their cost of reporting and audit by as much as 50%. At the same time, more efficient “day to day” processes give finance departments more time to perform analytics and other true value add services.
Using our proprietary Financial Effectiveness Framework(tm) SVA will provide a free assessment of your financial processes and help you identify low risk initiatives to increase effectiveness and efficiency of the finance organization. Our assessments help companies identify and address key risks.
- People: How effective is the communication and collaboration between the different functional groups? Are team members getting the continuous education that today’s dynamic environment demands? Have they embraced a culture of continuous improvement?
- Processes: Financial processes, especially those involved in the close and reporting are constantly changing. Even processes that are fully optimized and efficient need to be revisited on a regular basis.
- Systems: Are you getting the full return for your investment in financial systems? What is the right level of automation? Are your systems integrated? How well are exceptions and new requirements managed?