Losing the financial relay race? It's time to close the gap

It’s not about how competent your team is.

At year-end finance staff must pay attention to as many as half a dozen different applications and the risk exists for errors, especially when relying on custom-built or manual workarounds and software. And they are running between each team and translating their facts into figures.

It’s not about how competent your team is. It’s about the growing distance between systems and processes that they have to run between! And in fixing these the reward is not simply the final report delivered on time, but what doing that means – you’re winning!

If you can’t close on time you have gaps:

Gaps in your knowledge – data import, journal entries, multiple systems, reconciliation.

Gaps in your strategic planning – if you can’t look back, you can’t look forward.

Gaps in your performance –time, value, compliance, regulation, competitive advantage.

In a recent study by SL Associates, services companies reported a reduction in finance close time between 40% and 70% after switching to NetSuite’s cloud-based solution.

From QuickBooks to NetSuite Financials