Consolidating with Compliance

Section 404 of the Sarbanes-Oxley Act will force companies to make fundamental changes in their financial processes to regain efficiency lost in a more formal control environment. Legal and financial consolidation is one area ripe for change. Ventana Research asserts companies can and should shift from a traditional bottoms-up, sequential consolidation method to a more centralized approach. In doing so, they can cut costs, shorten reporting intervals, enhance the accuracy and reliability of the process and achieve greater control. Some companies already have the IT assets in place to accomplish this, while others will need to make changes to their consolidation and reporting systems.

See full Ventana article.