Software company needs to achieve harder close deadlines to meet ambitious growth plans

Picture this...

You’re a leading software company working with some of the world’s largest financial institutions, and you’ve experienced significant year-over-year growth. In fact, you’ve recently received an investment from an institutional investor to fund your continued expansion, but throughout the diligence process, you uncover severe deficiencies within the finance function: you have significantly outgrown your ERP system and the close process is taking over 45 days. To keep up with your accelerating growth, you need to make some improvements.

You turn to Accordion.

We partner with your team to transform the finance function. Specifically, we: ​

• Work with stakeholders across the organization to understand your business and the core accounting cycles.​
• Execute process narratives and process-flow diagrams, and identify any risks and control gaps while suggesting methods for remediation.​
• Work side-by-side with your accounting function to accelerate the month-end close, developing:​
  • a month-end close checklist and timeline​
  • hard-close dates for accounts receivable and accounts payable​
  • materiality thresholds for prepaid expenses, fixed assets, and overall reporting​
  • checklists and methods for implementing month-end accruals​
• Create a detailed roadmap for implementing improvement initiatives while executing on quick wins.

Your value is enhanced.

You reduce your days-to-close by 2/3, from 45 to 15 business days, with a plan of action to further streamline to 10 days over the next few months. Your finance team now has the necessary time and bandwidth to focus on other key improvement initiatives, including an upcoming ERP implementation, and can assist management with higher-level strategic business decision-making.