The GL challenge
Streamlining general ledger operations and standardizing finance processes are essential to enhancing efficiency and freeing up more resources for insight and analysis.
Further, this creates a Finance function that is robust and scalable to support business growth.
Solutions from StraitsBridge
At StraitsBridge, we leverage the expertise and experience of consultants through bringing in a process-oriented team along with technology solutions specialists to provide a holistic view of results-producing changes for our clients incorporating the four pillars of organization, people, process, and technology.
We assist our clients through assessing the current-state environment, mapping it to industry-leading practices, conducting a gap analysis, and then determining how the future-state processes can be aligned with the gaps identified.
Our solutions can help CFOs achieve the following
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Challenges facing CFOs
CFOs are often unable to attain the desired level of efficiency in their Finance function because of financial and management accounting challenges such as:
Lack of standardization of business processes
Existing organizational structure that doesn’t align with current and future reporting needs
Inconsistencies in the current setup and use of Chart of Accounts
No standard way to achieve balanced reporting by dimensions other than company code
Cumbersome multi-GAAP reporting options
Laborious month-end close and other support activities