As the CFO, you have a wide range of concerns. You want to focus on strategic issues, positioning your company for the future.
One thing you don’t want to worry about is the close. You simply want the close to be accurate and on time. However, the increasingly complex regulatory environment, along with the increasingly fast pace of change in business conditions, can make achieving an efficient, effective close problematic.
The Accelerated Financial Reporting Management solution (AFRM®) helps your team to increase the efficiency and effectiveness of the entire close process. Some of the key benefits of AFRM® include:
- Increased Accuracy. The number one cause of inaccuracies in the close is omissions. Often it is a small task left undone. By tracking the status and the approval of every activity in the close, AFRM® helps your team be 100% positive that you have achieved completeness.
- Automated Controls – SOX Inside. As CFO, you are ultimately responsible for compliance. AFRM® can help you to assure that your close process is SOX compliant by automating many of your key controls, and building in testing plans.
- The ability to look inside your close. Many CFO’s we have talked to want to get a more in depth look at their close process, know what is going on, and check on certain key entries. But they don’t want to interrupt the people working on the close. Using AFRM® you can get a real time view of the status of your close at any time, no matter where you are. You can also set alerts to let you know when items of interest have been completed. You get the ability to look inside without disturbing the workflow.