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What are the key strategies employed by fast period-closing companies? (Webinar Attendee Question)
Answers
Several key steps - governance and activity based analysis. For governance, leading companies have a "close manager" that manages the monthly, quarterly, annual close just like a project, with a detailed checklist that breaks down each task by owner, due date, task dependencies, handoffs, and more. This same checklist is initially used to built a map of all the sub-processes and their start and end dates. This is used to determine how and where tasks can be accelerated, etc. Feel free to reach out to me to discuss in more detail. Best regards 650-823-6777
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