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    Digital Finance Close

    Presently, the process of financial month-end close is spreadsheet-driven, and mostly manual in nature.
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    A combination of processes and technologies

     

    Digital Finance Close (DFC) is a combination of processes and technologies that assists clients to bring in automation and governance to the period end close process.

    Potential benefits

    1. Faster and efficient period end close
    2. Centralisation and Standardisation
    3. Effective accountability, governance and control
    4. Global visibility on close progress and benchmarking
    5. Cost reduction through automation/Risk reduction through financial integrity and risk-based approach
    6. Foolproof Audit trail of reconciliations, journals and tasks
    7. Reduction of errors and increased accuracy.

    Key Focus Areas

    Automatic reconciliation

    Facilitates automation of mundane spreadsheet based reconciliations by increasing the overall accuracy and speed required to perform that activity manually.

    Accounts certification

    Creates a governance layer of reporting of unreconciled balance and enables actions and dashboards for analysis

    Task management

    Creates an electronic checklist of close activities and provides real time dashboard for analysis.

    Variance analysis

    Allows analysis of fluctuations in balance sheet and profit and loss (P&L) balances.

    Journal solution

    Enables governance and automation for booking and approval of financial journals centrally.

    Intercompany solution

    Enables agreement between the buyer and seller beforehand, reducing potential mismatches.

    Opportunities

    1. High volume manual reconciliations
    2. Delayed close
    3. Quality/audit challenges for high risk accounts.

    Our Offerings

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    1. Opportunity assessment
    2. Vendor selection
    3. Design, development and deployment.
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