The financial close is full of process gaps. Few CFOs have visibility of workflows from ‘upstream’ beginnings in reporting entities to ‘downstream’ consolidation and reporting. So, it isn’t surprising that FSN’s research shows that 75% of finance functions hit a material accounting error every month and 66% complain that the reporting process is too slow.
However, recent innovations in the cloud and a new category of software are helping to close the gap and increase the visibility and control of all contributing workflows, strengthening productivity and enabling finance professionals to feel more connected to the end-to-end process and each other.
So the obvious question is how can CFOs take advantage of these innovative applications, to accelerate the process, fill the gaps, enhance financial controls, benchmark performance and better manage productivity and workflows?
To help us understand these exciting developments, Gary Simon, Chief Executive FSN and Leader of the Modern Finance Function on LinkedIn interviews Hugh O’Neill, a thought-leader and experienced finance director, who has overseen these transformative technologies, working at the ‘sharp end’ in key finance leadership roles across several industries including real estate and digital marketing before joining FloQast in spring of 2021 as a subject matter expert. Hugh trained as a Chartered Accountant with KPMG in Dublin.