When ServiceNow looked at the financial close process, we realized that a more advanced checklist wasn’t the answer. We needed to rethink the process and devise an intelligent way to sequentially transition from one task to the next with minimal human intervention medium to share information with the right context and perspective when an accountant did get involved. Automated digital workflows give a finance a team the ability to approve, review, reject, post a journal entry, and manage reconciliations with a high level of data integration, while providing a controller with real-time visibility the moment a task is done and routed to the next person.
In a recent webinar, Amir Jafari talks about the genesis of ServiceNow’s Financial Close Automation solution, our dynamic response to a static problem. He recounts his time as a controller and his reliance on checklists to the chagrin of his team. That experience drove him to lead the develop of a better solution. You can also hear about the impact finance automation has had at ServiceNow, yielding a 13% increase in efficiency and saving over 560 hours monthly in the first year.
Need more? Well, we have a ton of articles, posts and videos we’d like to share, but the last thing we want to do is add more items your checklist.
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