{"id":3825,"date":"2019-02-21T21:31:47","date_gmt":"2019-02-21T21:31:47","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=3825"},"modified":"2022-09-05T16:32:20","modified_gmt":"2022-09-05T16:32:20","slug":"streamlining-the-accounting-close-process","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2019\/02\/streamlining-the-accounting-close-process\/","title":{"rendered":"Streamlining the Accounting Close Process"},"content":{"rendered":"

Introduction<\/strong><\/span><\/p>\n

With so many different approaches companies can take to streamline the Accounting Close process, it can be difficult to determine where to best focus project resources.\u00a0 This research abstract highlights a company that recently shared details about their Accounting Close process and what they have done to improve their operation in this critical area.<\/span><\/p>\n

Company Experience<\/strong><\/span><\/p>\n

On a recent Peeriosity PeercastTM<\/sup>, a Senior Accounting Manager at a Peeriosity member company with over $10 billion USD in revenue and close to 100,000 employees, shared their experiences related to an initiative to simplify and enhance their Accounting Close process<\/a> started as the result of a mandate from senior Finance leadership.\u00a0 The Accounting Close process was taking 3 business days and the consolidation and reporting activities took another four business days.\u00a0\u00a0<\/span><\/p>\n

A project team was formed, and the following were the objectives of the team:<\/span><\/p>\n