Reconcile – Consolidate – Report (RCR)
Compliance requirements are changing frequently and there is an emphasis on an integrated and traceable financial close process.
UniVon helps organizations in designing golden balance between automations, user intervention and use of technology for Digital Transformation in the financial close process.
Accounting scandals have increased the limelight on Statutory Reporting. CFO’s need to be confident of their reporting sys ems , internal checks and controls. The need for a fully integrated financial close and reporting system is an investment which organizations can no longer postpone.
Organizations have onus of certifying and ensuring traceability throughout the journey of the reported data in the financial close cycle – transaction recording → consolidation → reporting. Account reconciliations play a crucial role on the path of data accuracy and traceability and boosts auditors and organizations confidence in the reported data.
For accurate measurement and reporting of group financial statements, elimination of intercompany balances and consolidation as per the GAAP requirements are very important. More often data comes from different sources which adds to the complexity. Without an automated and integrated reporting system, there is always risk of inaccurate , manual based and time-consuming reporting process.
We enable organizations achieve financial transparency and substantially reduce the time spent in reconciliations, consolidation and reporting to internal and external stakeholders, thereby achieving an end to end, automated monthly financial close.