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Closing isn’t the flashiest or the most glamorous finance process, but it is one of the most critical to your operations. Do it wrong, and you’ll be neck-deep in paperwork up until the last minute. But do it right, and you can give your top finance talent the time and freedom to make a real difference to the rest of your business.
As a master of close, you’ll be used to streamlining close processes and running them in parallel to your other operations. You also recognize the value of closing the books as quickly as possible, so that you can provide the right people with the right insights, at the earliest possible opportunity.
With this award, we’re looking for some truly exceptional close processes, typically those taking five days or less. But, the award is also open to those who have reduced their close times by a large percentage.
The Modern Close Award recognizes outstanding achievement by a controller or finance executive using Oracle EPM or ERP Cloud, based on the following criteria:
Reduction in number of days to close the books
Reduction in the number of chart of accounts to reduce or eliminate account reconciliations
"Ruthless standardization" to ensure that the close process is repeatable, predictable, and scalable
Use of emerging technologies, such as intelligent process automation or machine learning, to automate close processes
Strong governance and data management processes in place to ensure data quality
Recognizing the value of closing the books as quickly as possible, so that you can provide the right people with the right insights, at the earliest possible opportunity
Open Up About Your Close Processes
If it sounds like you fit the bill, we want to know! Visit our nomination page today, and your heroic efforts could be officially recognized at the Oracle Change Agents of Finance Awards.