Financial Close Optimization is a process-centric effort necessary to close the books and complete financial reporting efficiently. As companies increase in scale, size and complexity, inefficiencies in subsidiary-based or centralized general ledger closings are magnified. This is due to a lack of transparency in the status of dependent activities such as key account reconciliations, journal entries for accrued accounts, reversing entries, etc.
These days, most finance organizations want to focus on more than just transactional and administrative tasks. The C-Suite depends on Finance & Accounting to gather, interpret and deliver insights that can shape smarter decision-making.
From strategy to operations, performance management to reporting, we help finance organizations develop the tools, efficiencies and best practices to deliver accurate and timely information. Ideally, Finance & Accounting delivers transparent, efficient and forward-looking insight while also managing risk and compliance.
Companies are examining their Finance & Accounting organizations to determine if they have the right structure and processes to deliver this support in a cost effective manner. UHY Advisors can work with you to optimize and improve performance in the following areas:
As business technologies have made dramatic advances in recent years, it is no surprise that attempts at performance improvement in Finance & Accounting often begins with a focus on technology. Eventually, however, most businesses discover the fundamental flaw in this approach: They are automating a defective process. With our Enterprise Optimization methodology, we focus first on the process rather than the technology. By identifying process shortcomings, measuring their financial impact, prioritizing the most critical improvements, and then addressing the root causes of process problems, UHY Advisors helps you fix the process before you invest in technology.