It’s time to modernize their approach. With the right automated system, month-end can become just another flip of the calendar. The pressure for accountants to hurry up and get everything reconciled is eliminated. The books are always right, and the records are all in one place. Closing is no longer a stand-alone process but part of the normal daily process. Accounts are always in balance. Transactions flow from proposal to invoice to collection and on to the bank. Departments all work from the same source of truth, and rogue spreadsheets are replaced by built-in automation or embedded spreadsheets tied directly to underlying transactions. Silos are replaced by cross-department collaboration and communication. Data becomes information that leads to better decisions. Accountants are finally freed from relying on tired, old methods that no longer support modern businesses and can turn their attention to planning for the future.
It’s time to harness the power of automation. Rather than facing the cumbersome, old-school nightmare of closing the month based on the calendar, modern organizations can close as they go on a continuous basis. With a system like Acumatica in place, accounting staff can be freed from the anxiety of a rushed month-end close while enabling the rest of the leadership team to have timely access to critical financial data. Most of the low-value, high-tedium tasks can be automated, and accounting is empowered to plan, create forecasts and scenarios, and even provide training to staff members. As the business moves forward in the digital age, the impact of increased efficiencies on the bottom line will be great, but the benefits for members of the modern organization: improved morale, enhanced communication, and regular collaboration will be even greater.
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