Skip survey header
Fast Close

Dynamic Insights: The Fast Close

 
 
Completing the accounting close quickly has long been an objective for finance departments. A faster close enables them to respond more rapidly to changing business and economic conditions, providing more time to analyze results, address costs as needed and free up personnel for other duties. However, in more than a decade of tracking this metric our research has found slow progress in departments’ performance. Answer the following questions for a quick evaluation of your organization’s performance in the close and receive our customized guidance on how to enhance it.
1.

How long after the end of the calendar month does your company finish closing its books?

*This question is required.
2.

How long after the end of the calendar quarter or half-year does your company finish closing its books?

*This question is required.
3.

Does your company have a process in place to identify and address factors that may be lengthening the closing process?

*This question is required.
4.

How much of a priority is a fast close for your company's senior finance executives?

*This question is required.
5.

How timely is the information the finance department provides to the rest of your company?

*This question is required.
6.

Which of the following types of enterprise software does your company primarily use for statutory consolidations?

*This question is required.
7.

How well does the software your company uses for consolidation work?

*This question is required.
8.

How prominent is the use of spreadsheets in your company's closing process?

*This question is required.
9.

How significant a problem is data consistency or data quality in preparing your company's financial reports?

*This question is required.
10.

What is the most important reason to accelerate the close?

*This question is required.