Are Compliance Requirements Playing Heck With Your Closings?

Remember back in the late 80s and early 90s when corporations were retooling their financial consolidation systems in a big push to streamline their closing processes? Well, guess what? New regulatory compliance requirements, including Sarbanes-Oxley, have caused companies to focus renewed scrutiny on their consolidation systems, and they are coming up short once again.

The scope of the business problem has changed. Corporations have become more global, with multi-jurisdictional reporting requirements. Sure, financial departments of previous decades needed to produce accurate reports and validate their data. And reducing errors and compressing the closing time helped them achieve that. Those are ongoing goals and well-run organizations keep raising the bar.

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