Financial Close

For the majority of organizations throughout the world , month-end and year-end closes equal a lot of effort causing a lot of stress and resulting in a high workload for the employees involved.
 
In virtually all companies the Finance Department needs to complete hundreds of manual tasks, chasing other departments and subsidiaries for information, checking and adjusting data, making decisions around areas such as credit control and bad debt provisions, accounting journals etc.
 
Recently an increased emphasis on compliance and Enterprise Performance Management has resulted in a higher interest in "better control” of the closing process as it is a key process underpinning these activities.
 
However, the way to proceed is typically documented at best lacking a systematic approach and/or collaborative tools to make the process more repeatable and auditable.
 
CFObelux provides assistance to our clients to perform the Financial close more accurately and can also deliver temporary resources to better cope with these moments of increased workload.
 
Next to this, we also advise on the implementation of Financial Reporting tools that can automate part of this critical but laborious process.