industry
Energy & Utilities

Accordion and #FloQast collaborate to accelerate & bolster monthly close

Key metrics:
  • Reduced monthly close by more than 50% (from 30+ days to 15)
Key technology:
  • FloQast
Value levers pulled:
  • Financial close process acceleration
  • Controller support and process optimization
  • Finance process automation and ERP execution ​​

Picture this...

You’re a leading ecological restoration company having challenges meeting reporting deadlines just 1-2 months post-PE-acquisition. You’re closing takes over 30 days and you lack a detailed close checklist. Staff turnover is exacerbating these issues, as you’re not equipped to track and meet reporting requirements. You need someone to assess the current-state month-end close process and assist in accelerating the close timeline.

You turn to Accordion.

We help by:

  • Building a robust Excel-based month-end close checklist inclusive of deliverables, preparers, reviewers, and due dates.
  • Recommending FloQast as a close management solution because it is cost effective, quick to implement, and easy to use, allowing for:
    • Centralized view of the month-end close providing visibility via dashboards, detailed KPIs, workflow automation, automated reconciliation tie-outs and strong control over high-risk accounts
    • 4-8-week implementation requiring minimal involvement from your team
    • 2-5 hours of IT Setup Time, no ongoing maintenance by IT, no need for a system administrator
  • Project managing FloQast implementation with a dedicated FloQast team member.

Your value is enhanced.

  • Within two months you reduce your close by >50% (30+ to 15 Days). Your CFO and Controller now have increased ongoing visibility into the monthly close via dynamic dashboards and KPIs, and your team can address bottlenecks or issues in real time or before they arise.
Enhanced value:

You reap multiple benefits, including:

  • Financial close process acceleration
  • Controller support and process optimization
  • Finance process automation and ERP execution