FAQ

• Accounting is necessary for company growth. It provides insight into how a business is performing, enabling management to make smart financial decisions
• A company naturally incurs debt, and part of the responsibility of managing that debt is to make payments on time to the appropriate parties. Through accounting, a company can always know who it has debts to and when those debts are coming due
• Accounting is necessary to collect payments – Without accounting, a company may have a hard time keeping track of who owes it money and when that money is to be received

This is a list of typical issues encountered by companies in their Close-Report process flow.

• Transaction data needs a high amount of reconciliation after posting to the general ledger
• There is no standardized Chart of Account
• Transaction data is not captured at the lowest meaningful level
• G/L is not providing financial information in appropriate views needed
• Multiple sources of data exist; information is inconsistent

This is a list of typical issues encountered by companies in their Close-Report process flow.

• Multiple reconciliations occur
• Numerous journal entries are manually entered
• Executive use of financial data requires significant effort in translating financial statements into decision-supporting information
• Closing cycle takes several weeks
• Accurate and current financial information is not available until after closing occurs

• Prevent and detect errors and fraud
• Ensure the accuracy and reliability of financial information
• Improve operational efficiency and effectiveness
• Promote compliance with laws and regulations

• Uncover hidden patterns and trends for new opportunities
• Make data-driven decisions for smarter business moves
• Achieve better outcomes with improved decision-making (e.g. increased sales)
• Transform complex data into easy-to-understand visuals (charts, graphs)
• Identify actionable insights to take specific actions for improvement