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Published on: June 02, 2009
Type of content: WHITE PAPER
Format: Unknown
Length: 20 pages
Price: FREE

Overview:
Companies are moving beyond the initial need to comply with legislation like
the Sarbanes-Oxley Act and are focusing instead on driving sustainability and
control into their corporate processes. Of the various initiatives supporting this shift, the fast close - a concept used to describe a company's ability to complete its accounting cycles and close its books quickly - is perhaps one of the best documented.

Predating the compliance revolution, the fast close forms a finance transformation project that has a clear structure and well-defined methodology,
providing huge benefits to those companies that take on the challenge. However, what's arguably the single greatest barrier to the fast close has
remained constant - the completion of the intercompany reconciliation process. Surprisingly, this challenge continues to provide a bottleneck that
many companies have yet to tackle effectively.

This paper examines the issues behind intercompany reconciliation and outlines
how companies can make impressive progress when they employ software
solutions such as those from SAP and Business Objects, an SAP company.