Can a solution which optimizes the accounting close and financial reporting help with other processes? Absolutely, often without any additional cost.
Brian English, Director of Operational Finance from RTI Metals, and Brian Vondran, Assistant Corporate Controller with RTI Metals, describe the ease with which AFRM® provides quick review of attached documents, increases accuracy, and ensures completion of all tasks.
The AFRM® solution can provide significant additional value to any finance team well beyond the financial close process. The powerful combination of activity management, process documentation, collaboration, compliance, communication and document management, combine to easily provide process status and manageability that allows users to leverage additional benefits from using AFRM® for much more than just the accounting close and financial reporting.
Frankly, most of the significant issues affecting the accounting close and financial reporting do not originate in the accounting and finance departments. The ECM based AFRM® tool is perfect to resolve recurring cross functional issues related to the Financial Close.
Some areas where the solution has proven useful are:
- Operational journal entries (non-close related)
- Internal Audit and SOX compliance
- Tax return preparation and provision calculations
- Mergers and acquisition due diligence and integration
- Internal management report preparation
- Budget and forecast preparation and review
- Many smaller process challenges in the Accounting and Finance departments
Most finance departments complete many processes which are not supported by a system. With AFRM® all of these processes can be quickly incorporated into the solution and empowered with continuous improvement and manageability.
We go Beyond the Close and Optimize other processes with ease and can leverage your investment in a World Class close solution.
Many of these processes are completed by persons who will have licensed the AFRM® technology to optimize the close, so there is no additional charge to incorporate these processes.