Simplifying the Intercompany Accounting Function Through Automation and Process Design

Description: This is the first in a series of two Peercasts on this topic. At many companies, Intercompany Accounting can utilize a significant amount of resources, as well as extend closing cycles and delay account reconciliations. Efficiency in managing Intercompany Accounting can eliminate a great deal of non-value added activities.

This Peercast will focus on the efforts of our feature company in simplifying the Intercompany Accounting process through automation and process design.

Peercast Poll Results

Poll Title: Simplifying the Intercompany Accounting Function Through Automation and Process Design

Background: At many companies, Intercompany Accounting (ICA) can utilize a significant amount of resources, as well as extend closing cycles and delay account reconciliations. Efficiency in managing Intercompany Accounting can eliminate a great deal of non-value added activities. This poll looks at levels of automation and quality in ICA processing today and when companies last make improvements to this process.

Poll Question: How would you characterize the Intercompany Accounting process at your company today?


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  Process is highly automated and streamlined with high quality results and little rework 0%
  Process is highly automated but we spend more time than we would like doing investigation or rework 21%
  We are working to find ways to increase automation and improve quality 79%
  We would benefit from increased automation and improved quality but we haven’t been able to give this a high priority 0%

Poll Question: When was the last time you made a significant improvement to automation and quality to the ICA process at your company?


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  Within the past year 37%
  1-3 years ago 5%
  4-6 years ago 26%
  7-10 years ago 0%
  More than 10 years ago 0%
  Not sure, but have plans to do so in the near future 21%
  Not sure, but currently no plans to do so 11%