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Session Code: BRE0441
Presenter(s): Kathy, Jessica
Company(s): ServiceNow, ServiceNow
Abstract:
The finance close process involves multiple teams within finance, typically working in their own silos, marching toward the same goals, relying on emails, and/or status calls to understand where each team is in the process. Additional inefficiencies exist by working in multiple systems; a decentralized checklist, document repository, and ERP. To create real change in the close process, you need to have a single system of engagement, providing all teams visibility to the close status, where the user can both see and execute their tasks for the day. Approval workflows and tasks dependencies reduce the reliance on email and create an audit trail, showing required approvals and retaining supporting documents. ERP integrations allow for seamless posting of journal entries upon approval of the task, keeping the users in one system. The Finance Close Automation solution does this and has created real change within our organization, becoming a system of intelligence.
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