SmartClose

What is SmartClose?

  • A comprehensive top-down examination of every aspe business reporting – from strategy and attitudes to IT integration and process management.
  • Analyses the Head Office, including all departments that contribute to the closing process, promoting greater communication and collaboration.
  • Analyses key subsidiaries, the results of which can be rolled out to the remainder of the group either using your company's internal resources or with the continued support of PricewaterhouseCoopers.
  • Established methodology, which means quick wins an easily identified quick, improvement made, and the benefit realised from the outset all the way until the end of the project.
  • Holistic planning and continuous review to ensure optimum reporting and continuous improvement.

The Issues

Companies are facing increased pressure to provide information faster and more efficiently.

  • External pressure
    Market and regulatory bodies are demanding access to more reliable information within a shorter timeframe.
  • Internal pressure
    Business leaders require fast, value-adding information to make the right decisions.
  • Cost pressure
    Finance departments are continually pressured to do much more with the same or less resources.

The Solution - SmartClose

The PricewaterhouseCoopers SmartClose methodology is a fresh approach to closing and reporting. It delivers significantly faster and more reliable business information and creates competitive advantage by streamlining and optimising processes, systems and organisational structures.

Benefits of SmartClose?

  • Increased quality and competitiveness
  • Improved credibility in the market and within the organisation
  • Increased transparency and reliability
  • More timely and accurate decision making
  • Controls and process alignment and improvement
  • Improved staff skill, awareness and satisfaction

Is SmartClose right for you?

If your company is faced with mounting pressure to report faster, provide better information to key stakeholders, make more efficien use of resources, …SmartClose is for you.

What is the close process?

Key Milestones:

  1. Cut-off 
  2. Closed
  3. Reconciled & Consolidated

An overview of our Project Methodology

SmartClose focuses on improvements in four key areas:
Processes, Systems, People and Organisation, with a focus on working with existing systems and managing an effective change process through close teamwork with the client.

A typical SmartClose project is structured in 4 stages:

  • Strategize & Mobilize
    The initial stage allows us to work with our clients to understand the “as-is” situation and key objectives for the project. Together we define a strategy and prepare the project team to move forward.
  • Analyze and Re-design
    We will work with our clients to perform a detailed assessment to identify specific bottlenecks in the closing process. We will also define solutions which will create a streamlined and sustainable closing and reporting process including Who to Contact? “Quick Wins”.
  • Test and Roll-out
    Together with our clients, we will execute programs to implement the defined solutions, which could include new processes, structure, and information technology.
  • Continuous Improvement
    In the final stage, we will assist our clients in implementing continuous improvement procedures to ensure that hard won gains are not lost.

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