I wonder why accountants still suffer each month-end closing. Are the tools from the 21st century still not good enough? Or is it the approach that doesn’t work? As with anything in life, small – but constant- steps will take you to the end faster than running like crazy in the last moment. It is not a matter of speed – but focus and continuous progress.
A continuous accounting approach ensures the process happens every day in small increments. It uses tools to automate repetitive tasks and allows Accountants to spare their energy to analyze the financial data rather than staying alive trying to get to the end.
Imagine a world where the financial close is a date in the calendar instead of a stressful week, one day reserved for analysis, and finally, the moment to “press the button” and open a new period. It sounds like a dream, isn’t it? But that is only the result of a different approach.
Three reasons to change your accounting approach
1. TRUST
Tired and overworked people increase the probability of human errors during the process. In accounting, even a simple mistake can easily create a financial mess within the organization.
2. REAL-TIME DATA
In today’s world, organizations must be capable of responding immediately to changes in the marketplace. That means making decisions today based on up-to-date data.
3. ACCOUNTABILITY
Task management during the closing also becomes a challenge. The busy atmosphere makes it difficult to monitor and report tasks in the team.
Tungsten ReadSoft and Total Agility Software helps organizations to:
Ensure TRUST in the Numbers
By automating time-consuming tasks, AP Essentials eliminates fatigue’s human errors caused by manual entries. Integrity in your balance sheet is crucial. By providing increased visibility during the entire close, any remaining mistakes can be identified and corrected faster.
Deliver REAL-TIME DATA & transparency.
With Tungsten, all data is stored in a central location. Decision-makers can generate their reports from wherever and whenever they want. Getting actual data for your last-minute meeting should no longer be a headache.
Increase the ACCOUNTABILITY in the team.
With the Tungsten workflow engine, dashboards and reporting capabilities provide visibility into the status and accuracy of each accountant’s tasks. Team leaders are aware of what needs to be done and by whom.
With the leading end-to-end platform for financial automation, Tungsten liberates accountants from the terrible tools of the past by embedding automation and centralization into the month-end close and no more struggling with the time-consuming record-to-report process. Accountants can finally practice continuous accounting, enabling faster and more efficient closing. Access to real-time financial data for real-time decision-making is no longer a dream.
Break free from the traditional process and modernize your financial organization with Dynatos.
More information? Do not hesitate to contact us!
