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Streamline your closing process and deliver accurate financial reports

Seeking improvement of your financial reporting?

After accuracy for your financial reporting for management or your Board?

Impero has you covered.

Simplify monthly and quarterly financial statements, meet your legal requirements, and make informed decisions based on accurate and up-to-date data. 

With standardized specifications, user-friendly checklists and centralized data collection, Impero eliminates errors and inefficiencies so your finance team can deliver by deadline, time after time.

Automate tasks, integrate with third-party systems, and ensure up-to-date information for seamless financial reporting.

Experience the benefits of Impero and simplify your closing processes today.

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Impero Compliance Management platform

Closing process at a glance

Whether you’re a one-person compliance team seeking a starting template or someone looking to achieve accuracy and minimize risk during closing processes, Impero has you covered. Explore the sections below by clicking on the headlines to find the information you need.

What are closing processes?

Monthly and quarterly financial statements

Monthly and quarterly financial statements serve as the foundation for preparing an accurate annual report.

These statements provide a snapshot of the finances of a company. By having access to monthly financial statements, action can be taken to address potential issues and capitalize on opportunities. To make informed financial decisions, the monthly financial statements should include key components such as the balance sheet, cash flow statement, and income and expenditure statement.

Advantages of monthly financial statements

Control over what's happening in the company

Transparency of costs

More effective planning of expenditure and taking measures to raise money more quickly

Comprehensive view of the company's financial performance for investors

Enable sound decision-making based on accurate and up-to-date financial information.

Annual financial statements

The financial year is closed with the annual financial statements, which present the business results and the structure of the company’s assets in the past year.

Legal requirements in some markets

Companies must prepare a balance sheet and a profit and loss (P&L) account

Medium-sized and large corporations, which can be obliged to keep double-entry bookkeeping, must also submit explanatory notes and a status report, which presents the business performance and development

Some companies must publish a half-yearly financial report containing half-yearly financial statements, a management report and status report and balance sheet oath

Common challenges with closing processes

Poor integration of financial data & inconsistent file structure

Finance teams often have to rely on siloed information in multiple reporting systems across the organization.

These systems have significant differences in data structures as well as the way files are saved, e.g. for account names and numbers, products, customers, etc. This leaves the finance team with a time-consuming, manual reconciliation process, which increases chance of error. 

Lagging automation

Despite advancing digitalization, closing processes are still carried out manually in many companies. The combination of manual and automated processes often leads to incorrect data, e.g. due to manual data entry or calculations in Excel spreadsheets for non-automated processes.

Time pressures & deadlines

Financial statements are a crucial source of information for management, the board and shareholders. Increasing demands due to company growth and higher security and governance standards mean you need even greater efficiency.

With robust, automated and efficient processes in place, Finance teams can be empowered to deliver to deadline, time after time.

Simplify your closing processes in Impero

Impero features at a glance

Streamline data structures and formats through standardized specifications

Unlimited number of reminders

Centralize collected data in the results list

Seamless integration with third-party systems via API

Recurring tasks automated to the desired organization after simple setup

Impero Marketplace Control Processes solution Product Image
Impero Marketplace Control Processes solution Product Image

Cut through unclear processes – and get the documentation you need

Impero helps you cut through unclear processes, days lost spent chasing documentation and the data buried in long email chains.

  • Use Impero to eliminate errors and inefficiencies with clear specifications, so the person submitting the information knows exactly what to do and what to attach. 
  • Impero’s user-friendly checklists can match your predefined processes, and with clear assignment of responsibilities, Impero’s intuitive and easy-to-use platform ensures you get the data you need when you need it.

Let your finance team focus on delivering high-quality work, not days spent chasing documentation for your closing process.

Streamline your processes and focus the organization at scale 

Separation of process definition and task execution:

The specific tasks are already defined for the individual responsible person. This frees them from worries about process conformity and allows them to focus purely on the completeness and quality of their tasks.

Clear assignment of responsibilities to performers and reviewers

Quickly apply frameworks on a variety of teams, departments and entities using templates

Strengthen commitment to operational guidelines through an easy navigation and a clear user interface

Automated deadline management at any frequency from weekly to annually with notifications and reminders via email

Reduced audit time after consistent enforcement of data standards

Impero Marketplace Control Processes solution Product Image
Impero Marketplace Control Processes solution Product Image
Impero Marketplace Control Processes solution Product Image
Impero Marketplace Control Processes solution Product Image

"This has been the best closing process that we have ever had."

When you’re consolidating quarterly closing for a group with 600 companies, there comes a time when spreadsheets just cannot keep up.

Solar panels and wind mill on a country side land with sheep - image by European Energy

Jonny Jonasson, CFO, European Energy

With its operations quickly expanding to more than 600 separate companies, the quarterly closing process needed simplifying and standardisation. That’s when the Finance team turned to Impero.

Ready to simplify your closing processes?

Fill out the form below and we will get in touch to find out more about your business, your needs and how Impero can help you streamline your closing processes and deliver accurate financial reports.