Why should you optimise your consolidation process?
- To shorten account closing times
- To increase closing frequency (quarterly, even monthly)
- To meet the need for relevant quality information
- To meet the need for more legible financial accounts
- To get the benefits of a flexible process (for example, to deal with a growing business)
…These are all reasons to optimise your consolidation process.
What is more, and most importantly, consolidating accounts is at the heart of your group’s financial communication and the leading tool to manage its financial performance.
The consolidation process creates value for the group, so it’s crucial that it be optimised.
What are the areas for improvement?
The consolidation process breaks down into three major steps:
- Data collection
- Data processing
- Production of financial data
What can you do at each of these steps to optimise your consolidation process?
To find out, please take a few minutes to fill out our self-assessment questionnaire.
It is, of course, not intended to replace a full audit of your processes.
It’s simply intended to help you build a list of areas on which you can work some more to improve your overall process.
Dowload the self-assessment questionnaire:
Self-assessment of consolidation and reporting process The consolidation process breaks down into three major steps. […]