Nothing moves as quickly as the world of financial departments: On the one hand, the scope and complexity of national and international accounting regulations are on the increase, while on the other hand, deadlines for the preparation, auditing, and provisioning of quarterly, annual, and consolidated financial statements.
When financial statements are due, frequently countless hours of overtime are dedicated to ensuring internal and external requirements are met. The time enterprises spend on financial statements is often far too long: Reasons include inefficient structures and processes within the enterprise and a lack of software solutions that make automation of consolidation, planning, reporting, and analysis possible.
But by using the right software, the effort you currently spend on consolidation, planning, and reporting will reduce significantly. The time taken for the preparation of financial statements can therefore be sustainably reduced. CFOs will benefit from being able to access consistent and reliable numbers, while also saving a significant amount of time. This means that you can focus on what really matters, such as analyzing the data and using this to determine appropriate strategies. For the specific details on how you can achieve this, read our latest white paper.Contents
- The challenges
- Time-consuming manual processes
- Bad data
- Media disruption due to a patchwork of systems
- Lack of an integrated reporting process
- What is necessary for efficient financial statement preparation?
- Checklist: The challenges that suggest you need a consolidation solution
- The solution: Rapid preparation of consolidated financial statements by using the right software
- This simplicity makes LucaNet the leader in consolidation solutions
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