Automate Processes To Upgrade Your Accounting And Finance Staff’s Competency

Accounting and finance staff are under increased pressure to keep pace with an escalating rate of complicated changes.

But the buck still stops at the CFO.

Blythe Global Advisors has the tools and experts to help CFOs upgrade the ability of their accounting and finance functions to perform complex and time-consuming operations – better, faster and cheaper.

Accounting and finance staff have a lot to deal with. And it’s not going to get easier any time soon. Over the past year, I’ve discussed in my newsletters some of the profound ways that the convergence of U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) will affect how all companies report financial results. At the same time, the normally-occurring, countless changes to rules and regulations are continuing at their usual rapid rate. Accounting and finance functions are frequently challenged to understand and comply with these new requirements to deliver accurate, reliable reports to their CFOs who, in turn, are facing increasing demands from internal and external reviewers. The potential for a gap between reporting requirements and a company’s ability to comply accurately and efficiently has never been greater. The good news for CFOs is that sophisticated solutions to alleviate a great deal of this pressure are now affordable – even for budgets stretched thin in our current business environment. These solutions can improve competency by automating time-consuming, redundant, manual processes and transforming disparate, inconsistent data into meaningful, actionable, enterprise-wide reports. At Blythe Global, we have the experts and tools to help you implement these critical solutions better, faster and cheaper. Regardless of whether you’re private, public, just starting up or well-established, you’ll always work directly with our senior experts – not junior staff. Let’s take a look at how we can help you take advantage of these technologies to streamline processes and improve efficiency in two important areas – Sarbanes-Oxley 404 compliance and financial planning and analysis (FP&A) – where our combined Big Four partner and corporate senior executive credentials bring deep experience. SOA 404 – Internal Audit Control Reporting Regardless of your level of expertise, we can help improve your capabilities. If you’re at the first step of the ladder, we’ll start by working alongside your staff to document an accounting controls evaluation plan. If you’re further along, we’ll help customize the right software solution to your specific needs and work with your staff and/or existing service provider. For instance, rather than testing or re-testing hundreds of controls, we’ll help design the right approval criteria for your internal control activity and get your testing down to the lowest number of key controls. When implemented correctly, companies can realize considerable cost savings. By automating many tedious, labor-intensive manual processes, you’ll produce higher level reports faster and with greater accuracy. And, by replacing traditional desktop tools such as Excel, Word, Outlook, etc. with compliance system software, you’ll reduce ineffective controls and decrease reportable deficiencies. Financial Planning and Analysis (FP&A) We’ll help you implement a system that’s not just fully integrated but also fully reflective of where you are in the FP&A lifecycle. The manual exercises (and errors) associated with combining multiple accounting systems into numerous Excel spreadsheets can be automated. We will map current systems so your records will be connected real-time all the time, transforming formerly dissimilar, raw data into meaningful measurements that enable you to forecast results with better precision. The key metrics driving your business will be readily evident, providing you with visibility into your business that was previous lacking. Should you enter into an acquisition or merger, your reporting data, processes and system will facilitate the combination and consolidation of both companies’ data, processes and systems. Summing Up the Benefits Simply put, automating internal audit control reporting and FP&A processes will enable you to upgrade the flow and quality of information between your company, your key stakeholders and your auditing firm – enhancing relationships and reducing costs. If you need to improve your SOA 404 and/or FP&A processes (or any other accounting processes) but think a high-performing technology solution is too expensive, too complicated or too disruptive, think again. At Blythe Global, you have a partner with the experience, the technical skills and the tools to turn your needs into reality.

To discuss this important topic further, contact marc@blytheglobal.com