Faster Financial Closing
Improve financial reporting timescales without compromising data quality
Who is it for?
Financial managers responsible for the closing process in their organisations and/or those with responsibility for identifying and exploiting e-business opportunities within the finance function.
The course is of particular relevance to delegates from larger organisations or those companies whose closing processes are time consuming and/or inefficient.
What is it about?
Many companies continue to devote an excessive amount of time and effort on financial reporting at period ends.
Considerable cost savings are available to organisations that eliminate inefficiencies in the closing process. More importantly perhaps, eliminating inefficiencies in the closing process can release time and resources within the finance function - time which can and should be spent more productively on value-adding activities.
What will I get out of it?
An understanding of how you can significantly improve the reporting timetable within your organisation whilst maintaining the quality of information being provided
The seminar will demonstrate that gathering accurate financial and management information need not take a long time but can be done quickly and efficiently
An appreciation of the process, technology and cultural change issues which will have to be addressed during a project to reduce closing cycle times
An indication of the benefits which can be realised by those organisations that have managed to reduce appreciably their reporting timescales
Insight, through case studies, into how leading organisations have radically re-engineered their closing process
What will I learn?
Why is faster financial closing needed?
What makes financial closing complex?
Technical and accounting issues
Information collection, transfer and manipulation
Cultural issues within the organisation
Why do 'quick fix' solutions rarely work?
What is current 'best practice'?
The benefits of faster closing
Improved business support
Enhanced image for the finance function
Illustrated with a case study
More radical approaches to improved financial closing
Project management, design and timing
People and change management issues
Software for improved financial closing
An introduction to process redesign
How to re-engineer the closing process - key issues
Process re-engineering - core re-engineering techniques
Practical tips and guidance
Conclusions, agenda recap and wrap up
This course is worth 6 hours of CPD per day.