E78 Partners

MAY 8, 2024

Validation and Reconciliation: Once categorized, the telecom expenses are validated against predefined benchmarks or budget allocations. Reconciliation may involve cross-checking billing details with service contracts and usage records. Discrepancies or outliers are investigated to ensure accuracy and integrity of the data.

Leverage 52

Leverage Auditing Compliance Invoicing 52

PYMNTS

JANUARY 26, 2018

The data from these periodic closings can be instrumental in providing organizations with key benchmarking information about their financial standings, and yet businesses still struggle to gain the insight they need. The core of the close process remains the same: corroborate the numbers in the general ledger,” explained Feinstein.

General Ledger 47

General Ledger Benchmarking Reconciliations Accounts Payable 47

Planful

OCTOBER 5, 2021

This way, the FP&A system functions as a single source of truth housing all of the most up-to-date data, and the finance team doesn’t have to lose time at the end of each month culling and consolidating numbers from across the business. Reducing the length of the month-end close in any meaningful way depends on automation.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Finance Profit and Loss Benchmarking 40

CFO Simplified

DECEMBER 26, 2021

The purpose of this checklist is to create structure around when to grow, what roles are essential at what business sizes, and how to benchmark your accounting department against industry standards. Smaller companies, on the other hand, might have individuals in positions that encompass areas outside their traditional parameters.

Finance 52

Finance General Ledger CFO Auditing 52

Planful

DECEMBER 28, 2016

The Hackett Group benchmark research shows that world-class companies will consolidate and close the month-end books within 3 days, and report within 2 days. There have been a number of improvements in financial software technology over the last 10 years that can help streamline the financial close and reporting process.

Benchmarking 40

Benchmarking Reconciliations Data Analysis Technology 40

Planful

AUGUST 1, 2017

According to a 2014 study by APQC benchmarking the financial close process, the bottom performers took 12 days or more to close and report their results to management. Consolidating financial results might sound easy on the surface, but it’s more than just adding up numbers. Intercompany reconciliations.

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40

Barry Ritholtz

OCTOBER 3, 2023

So, you know, we, we, we got involved and created a benchmark, a commodity indices at the time. If you look at the, if you look at the filing and you look at the size of the company and the revenue, the entire yearly revenue numbers would be a bad quarter right? 00:16:40 So there was a way to judge yourself. That’s unbelievable.

Marketing 108

Marketing Treasury Banking Profit and Loss 108