Four hidden costs of legacy close and consolidation

Why evolving your close and consolidation process can’t wait

For many companies, consolidation is a process that simply exists. We don’t refine it. We don’t tinker with it. We don’t look at ways of innovating it. Especially when sexier innovations to analytics turn our attention to seemingly more influential financial processes. When it comes to consolidation software, we believe we have the functionality we need, even if the process isn’t ideal. The phrase, “If it works, don’t fix it” comes to mind. But this mentality is inherently detrimental. While passing off a software upgrade could mean you’re avoiding the inevitable, something even more worrisome could be underlying; staying with an inefficient system could be symptomatic of a Finance team so stuck in the trenches, you can’t see there is a bigger battle to be won. What if we told you that outdated consolidation processes are costing Finance more than time? In this whitepaper, we’ll lay out unexpected ways traditional consolidation methods are draining your resources — financial, operational, and human — and tease out why an end-to-end, automated consolidation strategy is the key to unlocking consolidation’s — and Finance’s — insight generating potential.

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