Smart financial-close management tools for smart financial executives.
Facilitate the collection, review and approval of financial period closing documents.
Many companies today face a highly manual financial consolidation review, with most of the communication required to review and approve closing documentation being handled through a myriad of back-and-forth emails, phone calls, and spreadsheet updates. In addition, these companies must handle ever-increasing compliance requirements from regulatory and external audit organizations while at the same time responding to ongoing pressure to complete the financial close cycle in less time, with greater accuracy, and fewer bottlenecks. Companies are looking to replace a complicated and stress-inducing process with one that is quicker, more reliable, and more efficient — a process that automates the acquisition, review, approval, and storage of financial close documents and that makes these documents securely available on demand to authorized internal and external auditors and company management for SOX and other compliance purposes.
ProcessUnity Financial Consolidation Review Manager provides a controlled environment in which to manage the series of sequential, interdependent activities required to report a corporation’s financial results on a monthly, quarterly, and yearly basis. ProcessUnity also facilitates the close, cross-organization coordination and collaboration that the close process demands, replacing a process that is typically highly manual and precariously dependent on spreadsheets and email, with an orderly workflow and secure, centralized storage of all Financial Close-related materials and documentation. ProcessUnity also gives finance executives the tools they need to address the mounting pressure to increase the accuracy of financial reporting and meet various regulatory demands, while also working to decrease turnaround time with an already overworked staff.
- Manage the series of sequential, interdependent activities required to report a corporation’s financial results on a monthly, quarterly, and yearly basis.
- Define a repeatable review-cycle structure and schedule based on provider and approver responsibility for financial accounts.
- Issue end-of-period requests automatically to documentation providers.
- Facilitate review and approval collaboration between providers and approvers.
- Monitor review process completion.
- Evaluate review process performance for process improvement opportunities.
- Provide auditors and other authorized third parties with secure, controlled access to selective financial close process documentation.
- Archive review documentation for long-term retrieval as needed.
- Automated and streamlined management of the Financial Close review process, eliminating the unpredictability of spreadsheets and emails.
- Advanced scheduling to avoid missing critical requirements that do not occur on a regular basis.
- Dashboard that provides a dynamic view of the Financial Close process, enabling both real-time problem resolution and post-close analysis of opportunities for improvement.
- Comprehensive reporting that tracks the fulfillment
- and approval of documents that are required to complete
- the Financial Close.
- Real-time view of close process
- Freedom from the unpredictability of spreadsheets and email
- Easier compliance with regulatory requirements
- Improved internal management, timeliness, and visibility
- Easy-to-maintain master list of financial statement accounts
- Support for multi-division, multi-region businesses