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| 1 minute read

The Accounting Close - Faster, Better or Both?

Closing the books is not just an exercise in speed - it's an exercise in innovation and thinking differently. The rationale to get the books closed faster is to have more time to actually reflect on the results, what it means, and how to use it to drive sustainable business results fast. It's not about doing the same process faster or with more people but rather how can I change the process; how can we be more proactive rather than reactive and add strategic insights back to the business supported by the numbers and fast! This will continue to be increasingly more important with macroeconomic impacts quickly coming into play.

Also, see  "Fast to Close. Fast to Market" written by my colleagues Lauren Herder and Rasmus Gerdeman.

© Copyright 2022. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.

Nine out of 10 (94%) of controllers put high energy and resources into closing company books but could curb deadline pressure and the risk of error by revamping the structure, operations and behaviors underlying how their team completes the closing, Gartner found in a survey.


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