Optimizing the role that head offices play can slice multiple days off the reporting process in some cases.
The fine art of push down
Many CFOs are looking for a faster and more value added reporting process. Faster access to relevant information enables the management team to take immediate corrective action where needed. Fast close projects generally focus on two mechanisms: more reliance on estimations in the month end close, and utilizing better technology to support the group reporting process. Challenging the role that head offices play within the group reporting process is however often overlooked. We have witnessed the optimization of that role to slice multiple days off the reporting process in some cases.
Head offices have the tendency to assume group reporting related tasks centrally. Sometimes because the utilized technology does not offer the right functionality to decentralize these tasks, but more often there are other forces at play. Let’s highlight some common examples.
Collecting cash flow statements bottom-up can provide valuable insights on cash conversion efficiency.
Casper van Leeuwen
May 3, 2019