The Morden Accounting Playbook
Every organisation needs to be able to close the books accurately and on time, but the ERP systems used to run and automate the operational side of the business fall short when it comes to account reconciliation. SMBs with ambitions to scale and grow need to be able to shake off the cumbersome manual burden of the month-end close.
Achieving a virtual automated close is now more realistic for mid-sized companies. If your team consists of 5-30 accountants, here’s what the playbook looks like for you:
You have an immediate transformation opportunity if you’re beginning from a standing start—a spreadsheet, email, and paper-based close processes, bank matching that’s performed by hand, or manual reconciliations and ERP extracts—
Here are three quick-win opportunities you can move on right now:
- Get more speed and less risk in the financial close by moving to digital role-based workflows to get more control over the process. Real-time dashboards and reports show the status of outstanding tasks, items, and everything else closely related to the close.
- Streamline the reconciliation processes and improve financial integrity by applying rules-based processes to automate reconciliations, and using digital workflows to route preparation, approval, and review tasks.
- Speed up bank reconciliations by using automated GL and bank data extracts. Then, match and reconcile transactions automatically using intelligent rules
Download the whitepaper to discover more…