I wonder why accountants still suffer each month-end closing. Are the tools from the 21st century still not good enough? Or is it the approach that doesn’t work? As anything in life, small – but constant- steps will take you to the end faster than running like crazy in the last moment. And is not a matter of speed – but focus and continuous progress.
A continuous accounting approach ensures the process happens every day, in small increments. It makes use of tools to automate the repetitive tasks and allows Accountants to spare their energy to analyze the financial data rather than staying alive trying to get to the end.
Imagine a world where the financial close is a date in the calendar instead of a stressful week; one day reserved for analysis and finally; the moment to “press the button” and open a new period. It sounds like a dream, isn’t it? But that is only the result of a different approach.
3 reasons to change your accounting approach:
Tired and overworked people increase the probability of human errors during the process. In accounting, even a simple mistake can easily create a financial mess within the organization.
In today’s world, organizations must have the capability to respond immediately to changes in the market place. And that means to take decisions today based on data up-to-date.
Task management during the closing also becomes a challenge. The busy atmosphere makes difficult the monitoring and reporting of the tasks in the team.
Kofax ReadSoft and Total Agility Software helps organizations to:
Ensure TRUST in the Numbers
By automating time-consuming tasks, ReadSoft gets rid of fatigue’s human errors by manual entries. Integrity in your balance sheet is crucial. And by providing increased visibility during the entire close, any remaining mistakes can be identified and corrected faster.
Deliver REAL-TIME DATA & transparency
With Kofax, all data is stored in a central location. Decision makers can generate their reports from wherever and whenever they want. To get actual data for your last-minute meeting should not be a headache anymore.
Increase the ACCOUNTIBILITY in the team
With Kofax workflow engine dashboards and reporting capabilities provide visibility into the status and accuracy of the tasks performed by each accountant. Team leaders are aware of what needs to be done and by whom.
With the leading end-to-end platform for financial automation, Kofax liberates accountants from the terrible tools of the past by embedding automation and centralization into the month-end close. No more struggling with the time-consuming record-to-report process. Accountants can finally practice Continuous Accounting, enabling a faster and more efficient close. Access to real-time financial data for real-time decision-making is not a dream anymore.
Break free from the traditional process, and modernize your financial organization with Dynatos.
More information? Do not hesitate to contact us!