For some companies, Month End takes up to half the month to complete; by this time much of the information is out of date. We have helped companies produce Month End management accounts much faster than this - typically by working day 5 or 6, which is when we produce ours.  Issues that can slow down your month end:

• Lack of goal congruence across departments

• Lack of communication

• Many disparate systems holding data

• No Standard Procedures

Implementing just one of the following will help to speed up the time that your accounts are produced:

• Creation of a Month End Timetable - set targets

• Business Process Mapping - find out the bottlenecks

• Improved communication within and across departments

• Integrate systems - stop duplication

• Continual improvement

With earlier results the Finance Department can begin to interpret data using financial analysis tools; (like the new Microsoft® Performance Point Server.) With a faster month end your analysis will give results that can really make a change to your business performance.

If you want to know more then have a read of my whitepaper at www.waterstons.co.uk/inspire or contact me consulting@waterstons.co.uk .