It’s time to strengthen your month-end closing

Month-end closing, Simplified.

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?

Play Video about Feature in focus month-end closing video with Mikkel, from Impero thumbnail image

Month-end closing – at a glance

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.

How can Impero help you optimize your month-end closing?

Internal Controls

Easy to use and transparent, so you save time

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!

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Create a control
Reporting in Impero
Reporting & Documentation

Get reports in real-time so you can take action right when you need to

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.

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Documentation and Audit trail

All documents stored in one place  

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.

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Strengthen your month-end closing process with Impero and Basico

Learn more about how you can automate and strengthen your month-end closing process with our new template solution in partnership with Basico.

Challenges during Month-End
Impero functionality

Structured process with an overview of all the tasks and controls that need to be performed

  • Easily create tasks and controls with relevant details and add to new or existing program pertaining to the month-end
  • Filter through programs for overview of control name, responsible, reviewer, status, etc.
  • Automated process with clear deadlines of who needs to complete the tasks and controls and by when

Clear deadlines and expectations of what needs to be done and by whom

  • Assign responsible to tasks and controls with specific instructions to guide the assigned and secure standardized execution
  • Set deadlines automatically trigger the tasks and control on the correct business day. Reminder emails will be sent to the assignees when the time is right, and tasks are pending

Possibility for real-time monitoring on different levels of the organization both locally and globally

  • 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
  • Automatic send outs of reports to managers at all levels of the organization

Easily reassign tasks if bottlenecks appear in the form of illness, holiday, busyness, etc. 

  • Easily assign tasks and controls if someone is sick or on vacation during the month-end closing process
  • Under the user management feature, managers can replace or remove users in charge of performing the tasks and controls. This can be a one-off replacement, or permanent

Documentation gathered and stored in one shared place reducing risk of errors and simplifying the process for auditors

  • All documentation stored in one secure shared place making it easy to identify and address potential mistakes or errors
  • Auditors can also be granted a view access to Impero which significantly reduces the time and effort required to provide them with requested data and documentation

Simple way to support account reconciliation

  • With the datasheet functionality in Impero, you can easily verify information presented in the balance sheet
  • Datasheets imported from Excel can be integrated into Impero controls so all important procedures can be accounted for and checked by various departments or employees

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