Financial controlling has evolved significantly, adding financial operating processes to the typical number crunching to ensure the smooth running of your finances. Also, you can now outsource financial controller services to streamline the processes further, reduce cost and improve productivity in managing financial reporting and consolidation. Adding automation to these services further helps you in handling high growth.
Automation in financial controlling comes with the following benefits.
Using spreadsheets is one of the wrong choices for managing and closing consolidation on related processes. However, with effective financial controlling you can build workflows around automated inter- and intra-company eliminations, allocations, reconciliations, and importing data from ERP systems in different locations. These developments help minimize errors from manual entry and reduce the risk of replicating these mistakes into the repeatable processes.
Cutting spreadsheets and, instead, automating financial controlling saves on time which you can put into adding cycles for strategic analysis.
It is quite unfortunate that most companies find it challenging to meet their quarterly and annual close on time. That is not to mention even their weekly close. But, outsourcing financial controlling services to providers like Consero Global can help you meet the demand to close your books within the expected one week.
Thanks to this age’s virtual closing, achieving even a successful annual close in now no longer a long shot. You can integrate automation into your ERP systems and other financial applications to facilitate real-time statements of your businesses’ financial status.
The top outsourced financial controller services of the day use technology to overcome the challenges of spreadsheets in managing consolidation, and in closing financial books. To top it all, they automate reporting as well as consolidation in cloud-based platforms. Being that most of these services are cloud-based means that you can manage, use and deploy them easily, quickly and from any node regardless of your location.