Telecom assets are a special class of IT assets that require an accurate inventory for effective financial management. Enterprises should consider the benefits of establishing a "single version of the truth" that comes from linking management of IT and telecom assets with their other systems and processes. An accurate inventory is critical for effective financial management. Managers need accurate information that supports their business decisions.
According to the report, Benchmarking the Accounting Function 2015, only 56% of companies currently use automation to reconcile accounts. While many finance leaders want to change the process of reconciliation, the task can seem overwhelming.
However, developing a plan does not have to be complicated or time-consuming – and the benefits far outweigh the risks. A smooth, stress-free financial close adds qualitative value to the company by freeing employees to focus on strategic initiatives and ways to grow business.
A CFO’s Guide to Transforming the Financial Close shares how to build a center of excellence to streamline reconciliation so you can align objectives to overall business goals. Leading-edge automation tools can stop the madness of shuffling papers, sorting emails and searching spreadsheets, turning the reconciliation process from a cost center to a value-add for the company.