What is SmartClose?
- A comprehensive top-down examination of every aspect of 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 PwC.
- Established methodology, which means quick wins are easily identified, quick improvement made, and the benefit realised from the outset all the way until the end of the project.
- Comprehensive planning and continuous review to ensure optimum reporting and ongoing improvement.
If your company is facing mounting pressure to report faster, provide better information to key stakeholders, make more efficient use of resources, SmartClose is for you.
- External pressure
Market and regulatory bodies are demanding access to more reliable information within a shorter timeframe.
- Internal pressure
Business leaders require fast, high-quality 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
PwC 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
What is the close process?
Key milestones and activities in the Close & Reporting processes are: