The digital close is not just about using new and improved technology. It’s about changing the way you approach the record-to-report (R2R) process so that it delivers timely, targeted information to all end users of the financials.
When fully implemented, the digital close helps to enable that finance team receives close source data as expected, process automation is improved, and information reporting is done continuously.
KPMG can help you initiate the digital close by:
- Establishing a strong foundation of core business fundamentals
- Exploiting powerful record-to-report technologies
- Enabling an improved set of actuals that can support a company’s predictive models
- Unlocking and automating the flow of untapped internal and external data
- Driving accountability of data validation prior to the start of close
- Enabling an automated exception-based continuous data monitoring function
To transform your R2R process and avoid the typical close fire drills and complexities that result from having to fix data and compensate for underused automation, explore the five pillars of the digital close.