How often do you or your team spend hours, maybe even days, chasing information for your month-end closing processes?
The documentation? The emails? The phone calls?
What if you could be confident that the processes always works? What if you could always be certain?
Did you know that the average organization needs 6.4 calendar days to close out a month’s book with some organizations needing over 10 days. Changing the process can be difficult and any wrong step or wrong information reported can have significant consequences for your organization. By choosing Impero, organizations like Mærsk and Falck have been able to decrease time, cost, and efforts with tasks pertaining to month-end closing.
Searching for clear deadlines and expectations of what needs to be done and by whom? Automate processes with clear deadlines and assign responsible to tasks and controls with specific instructions to guide the assigned through a secure standardized execution.
Easily create tasks and controls with relevant details and set deadlines to automatically trigger the tasks and controls on the correct business day. Reminder emails are sent to the assignees when the time is right- they’ll just get an email to complete a control. It’s that easy!
Real-time status of control completion for faster and efficient decision making via the reporting dashboard. When a control has been completed it is logged in Impero automatically.
In fact, reports are automatically sent out to managers on all levels of the organization.
Reduce the risk of errors and simplify the process for auditors by storing all documentation pertaining to month-end in one secure shared place making it easy to identify and address potential mistakes and errors.
Auditors can be granted a view access to Impero, significantly reducing the time and effort required to provide them with requested data and documentation.
Structured process with an overview of all the tasks and controls that need to be performed
Clear deadlines and expectations of what needs to be done and by whom
Possibility for real-time monitoring on different levels of the organization both locally and globally
Easily reassign tasks if bottlenecks appear in the form of illness, holiday, busyness, etc.
Documentation gathered and stored in one shared place reducing risk of errors and simplifying the process for auditors
Simple way to support account reconciliation
These Impero functionalities strengthen the month-end closing, reducing the risks of reporting wrong numbers, and speeding up the process while giving your business an easy and simple understanding of the workflow and status.
Instead of spending over 10 days on the process making sure you have completed all the tasks and controls to finalize your financial reports, your business will have the complete process and all the correct information in one platform and can use the valuable time saved on other important tasks that are also crucial to your business.