Don’t Let Financial Close be as Scary as Halloween
Halloween – one night of the year where people try to terrify themselves. The scarier the better for some people. What are your plans this year? A fancy dress party? A scary movie? A ghost tour? People expect surprises and things to creep up on them from nowhere. That’s what Halloween is all about isn’t it?
Or maybe you don’t like surprises and like to know what is going to happen and be in control at all times. Certainly that is likely to be the case in business. Being scared is never a good situation for a business to be in. As we approach Halloween and think about the ghouls and witches that could terrify us this weekend – what about the things that create fear and dread in your business life?
To build on that analogy it is good timing that Halloween comes on the 31st October. Month end or dependant on your financial calendar it could be the end of the quarter as well. So are you in control of everything as we approach the end of the month with a calm attitude, safe in the knowledge that you have done all you need to do and there will be no last minute surprises or are you panicking as though Halloween has come a few days early?
Who needs a Halloween costume when the white with fright look already has you resembling a ghost!!
The end of the month doesn’t have to resemble Halloween every month. If you are currently spending your financial close periods investigating details and resolving errors then a centralised approach to your activities can reduce your time spent on your financial close by 50%, improving productivity and efficiency. The benefits this can have for your business is to accelerate your order to cash processes, compliance to taxation and regulations and provides real time visibility of your financial results for any area of your business.
The ability to centralise these processes is made much easier by adopting cloud based business information solutions. Increasingly the need for instant access to information from multiple sources is becoming more evident in the business world. This has been a feature of everyone’s activities outside of their working life for some time now and is moving into working lives as well. Staff now expect to be able to access systems and information remotely and have instant access and answers to questions. Older, separated systems don’t offer this flexibility and that is when things become chaotic and the fear sets in as month end comes closer. Continuing to work in that way can result in lost opportunities and orders and resources focused on the wrong areas.
If this makes you think about ways to improve your productivity and efficiency of resources, register for our free webinar and ensure that this Halloween things only go bump in the night and not in your business.