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Financial Close Blog Series – It’s a Wrap!

By Elizabeth Milne, Senior Director, EPM Product Marketing

Originally posted on SAP Analytics, 1 May 2015. Reposted with permission.

In this blog, the 14th and final one in our accounting and financial close series, we’ll give you a recap of the series. Our objective as we planned and wrote this blog series, was to discuss various ways to improve the close process in the hopes that your company would find areas that you identify with and that give you suggestions and direction to better manage your financial close.

Each blog addressed certain steps in the accounting and financial close process. This process has many dimensions and will vary company by company. Throughout these steps (identified in the chart below) we’ve discussed different aspects such as people, process and technology, and suggested different ways of standardizing, centralizing and automating processes to improve efficiency and effectiveness of your financial close process.

Financial-close-process

For your easy reference, here’s a list of all the blogs presented in this series.   Special thanks to Birgit Starmanns, Pete Graham, Bob Davenport, and Stefan Karl for their contributions to this series. I enjoyed working on it and I hope you enjoyed reading it.

  1. You Want to Improve Your Financial Close Process – Where Do You Start?
  2. Accounting – The Financial Close and Simple Finance – How Fast Is Fast Enough?
  3. Accounting – 5 Things to Look for in Lease Accounting Software in Light of New Regulations
  4. Accounting – 5 Steps to Help Your Organization Prepare for the New Revenue Recognition Standards
  5. Entity Close – Improve Intercompany Reconciliation with People, Process and Technology
  6. Entity Close – How to Modernize your Account Reconciliations
  7. Entity Close – Improving on the Entity Close Process
  8. Corporate Close – Standardize, Centralize and Automate Your Corporate Close – Step 1 of 3
  9. Corporate Close – Standardize, Centralize and Automate Your Corporate Close – Step 2 of 3
  10. Corporate Close – Standardize, Centralize and Automate Your Corporate Close – Step 3 of 3
  11. Understating Analytics: Breaking down Reporting and Analysis Options for the Financial Close
  12. How to Reduce the Time, Risk, and Cost of Producing Standard Periodic Financial Reports
  13. How to Improve the Governance of Your End-to-End Financial Close

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