Clarify responsibilities.
Document who prepares, reviews and approves important finance activities. Growing transaction volumes expose gaps in ownership quickly.
Make the close repeatable.
Set a closing calendar, reconcile key accounts and maintain supporting evidence. Reporting quality depends on consistent operating routines.
Connect systems and decisions.
Review master data, approval workflows, reporting requirements and team capacity before selecting new technology. Build a practical improvement plan with named owners.
Review readiness
- Assign owners for closing, reporting and key controls.
- Document the close timetable and reconciliation requirements.
- Check whether data and systems support the reporting needed.
- Prioritize improvements by risk, effort and business dependency.