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Looking for a Quick Win to Improve Your Remote Finance Processes?

Let's start from the beginning and see where we are most likely to find a quick win. Research from PwC states that the number one method that finance professionals identify for making finance processes more effective is improving their finance technology. With that in mind, what process should we focus on to improve with technology? Suitable candidates should be processes that are:

  • Manual and high risk
  • Transaction intensive
  • Fragmented and inconsistent
  • Quick and simple to deliver
  • Delivers high value

Many companies will already be looking at their P2P or O2C processes and the next great opportunity for improvement is the Record to Report (R2R) process. The R2R process consists of all of the sub-processes that a company needs to go through to ensure the integrity of the period end numbers, including reconciliations, journal entries, close tasks and activities and compliance controls.

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