FloQast
APRIL 7, 2024
With the close taking up to eight business days per month, CFOS must understand efficiency challenges and identify opportunities to speed up and streamline close tasks for optimal performance. In this article, we will look at best practices for enhancing your close and how automated software tools can help you reduce completion times.
Nanonets
JANUARY 31, 2024
Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. Month-end reconciliation is the most important part of the month-end close process. It involves recording, reviewing, and reconciling records at the end of every month.
FloQast
JUNE 17, 2024
With a diverse portfolio and operations spanning multiple continents, the company faced significant challenges in its month-end Close process. Aspect Energy’s monthly Close times ranged from 15 to 45 days, creating delays in financial reporting and decision-making. Improvements Seen: U.S.
FloQast
MARCH 27, 2024
This allows teams to capture best practices to ensure consistency and change processes as their organization scales. Additionally, with Audit Reports, managers can track changes to processes, noting who made a change and the timing, ensuring strategy remains aligned with execution. Simply put: Not all recs tie out.
PYMNTS
JANUARY 26, 2018
Rob Feinstein, vice president of Product at FloQast , told PYMNTS that this excitement over innovative technology is a response to the ebbs and flows of the close management process. Managing the month-end close is a process of continual improvement,” he said. Open Banking initiatives in the EU, U.K.,
FloQast
NOVEMBER 11, 2024
In every accounting department I’ve been a part of, a crucial period rolls around at the end of each month: the month-end Close. The month-end close process is the culmination of a month’s worth of financial transactions, when all hands are on deck to ensure the company’s financial records are accurate and up-to-date.
FloQast
OCTOBER 21, 2024
Best Practices for Automating Bank Reconciliation Maintaining best practices will keep your business running smoothly and your team functioning properly. Their close process tightened, and more employees can now work remotely in different time zones across the continent.
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