Fast Close

Accelerated closing with Fast Close - what needs to be considered?

An accelerated preparation of the financial statement (fast close) is often regarded as the CFO's key qualification. With good reason, because a fast presentation of high-quality control information can only be guaranteed if all previous processes run smoothly.

The goal itself is also understandable, as the relevance of the figures from the management's point of view decreases every day after the last trading day and otherwise other sources are used to evaluate the situation.

However, as is almost always the case in process optimization, you will come to a point where further optimization becomes very time-consuming or you have to work with compromises. Compromises can be, for example, estimates or the use of plan data. Both with complex optimizations and with compromises you should ask yourself whether the actual goal is still promoted or whether you’re doing yourself a disservice.

  • How are the right conditions for Fast Close created?
  • Optimizing the closing process as the first step of Fast Close
  • Process management as the basis for further optimizations
  • Fast Close is just the tip of the iceberg!
  • More ...

    Our broschures for Fast Close

    Whitepaper Target Operating Model - Preparation for CFO 4.0: Without a clear target image of the future finance organization, the CFO area will become the company's dinosaur!
    • How can the new available data be integrated into the reporting?
    • What does reporting and control look like under industry 4.0 sign?
    • What effect will the relocation of CRM systems to the cloud have on the CFO? 
    • Is the old paradigm that every number in the company must come from the CFO area losing its validity?
    • Can one trust the promises of the manufacturers who once again promise integration?
    • When can reporting and planning finally become part of general corporate management and not a controlling event?
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    Our experts for Fast Close

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    Stephan Grunwald
    Markus Noçon
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