Improve Financial Reporting and Close Process
As a leading Austin-based consulting firm, 9Gauge Partners continues to utilize its partnership with Adaptive Insights to leverage innovative CPM and business intelligence solutions to help leaders make better business decisions faster. Below is a detailed look into how Adaptive Insights can help your company’s reporting needs:
Challenge: Did you know that…
- Research by Deloitte shows that the reporting and consolidation process is still time-consuming and error prone.
- Those that haven’t automated spend are almost twice as long on the process than those who have (Source: Ventana).
If you are using spreadsheets exclusively in the financial reporting / close process then they are exposing you to extended close cycles, extra effort, and risk of errors. The impact is that your team is likely spending too much time managing eliminations, journal entries, currency conversion and getting the reports out. All of this is a poor use of the productivity of the accounting team, and injects risk into the close and financial reporting process.
Opportunity: What if you could…
- Load data from your GLs, automate more, have a real-time view of your consolidated financials, and go straight to reporting?
Solution: Adaptive helps by …
- Improving Speed: Automating reclassifications, inter-company eliminations, currency conversion, and financial reporting.
- Reducing Risks: Adaptive’s automated report refresh eliminates manual data handling, virtually eliminating risk of error.
- Fostering Accountability: Powerful Process Tracker ensures you have a view of where the consolidated close process is, what remains to be done, and who needs to do it.
- Improving Resource Efficiency: Helps free up accounting resources from manual processes, diagnosing financial reporting and close process issues, and tracking down errors, reducing the time and effort spent.
Need Evidence? Check out these Adaptive Insights Case Studies:
- Cut 2 days from the close at Daymen by automating eliminations.
- Reduced data validations and aggregation by 3 days per month at Sift Media.
- Accelerated close by 3 days per month at Blackline.