Stefan Sexl
BARC Fellow
With 30 years of vendor and consulting experience, Stefan's focus at BARC is on CPM, BI and reporting.
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Account Reconciliation and Closing – The Journey from Excel to Artificial Intelligence
Read how to implement an efficient group accounting process to keep pace with a fast-moving business environment.
This study explores the following questions:
- What are the current practices around account reconciliation and the closing process?
- To what extent and with which IT solutions are consolidated financial statements prepared?
- What are the possibilities to improve consolidated statements?
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Further information
The demands on group accounting as a supplier of financial data have increased steadily in recent years. Consolidated financial statements are not only required by law, but also support management for group-relevant decisions.
Nowadays, companies, regardless of size and industry, are operating in an increasingly dynamic environment. Keeping pace with a fast-moving business environment means that consolidated financial data must be available in a timely manner at group level in order to derive decisions and necessary adjustments. Timely but also high-quality financial data is becoming a competitive factor in a world with an increasing number of transactions, data and information needs. This requires an efficient group accounting process.
Sample and related content
The study is based on an online survey of 110 companies in the DACH region.
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