Improve financial planning through a more holistic R2A process
We don’t need to tell you that it costs money to manage the books. Record-to-analyze (R2A) processes typically account for one-third of organizations’ overall finance and accounting (F&A) costs. Indeed, organizations that close their books faster – verifying results and filing financial reports in compliance with government regulations – can trim millions off their expense ledger and deliver cash back to the company.
However, organizations often lack the ability to share, receive, and access financial information and records between stakeholders located in different parts of the world on time. This can lead to decreased efficiency in the financial close and inconsistency of data between departments. On top of this, a lack of process standardization, visibility, and the tools to enforce transparency and governance significantly increase the risk of misstatements in financial books.
Process transformation expertise enriched with automation
Your business can benefit from an intelligent automation solution that increases the efficiency and effectiveness of the financial close and reconciliation processes. Trintech’s Cadency leverages its System Controls™ (SFC) that combines all record-to-report (R2R) activities into a single seamless platform to reduce the cost and risks associated with the financial close period, while significantly improving the finance function’s efficiency and effectiveness.
As an end-to-end solution for the entire R2R process, Cadency enables you to achieve the ultimate goal of reliable financial statements each and every period with unparalleled insight into the business overall. In addition, Cadency enables even the most complex companies to focus on adding strategic value to their organizations instead of worrying about unknown risks lurking in their financial statements.
A configurable dashboard for controlled agility
Cadency powers a configurable dashboard that gives you a newfound “controlled agility,” and enables you to focus on specific responsibilities and areas critical for success.
Cadency’s System of Accounting Intelligence™ (SOAI) enable the solution’s platform to be comprehensive, powerful, and easy-to-integrate with your existing systems. Leveraging and uniquely configuring the latest in intelligent automation will enable you to meet the specific needs of your finance function and reduce the cost and complexity of the close process for years to come.
Capgemini and Trintech’s intelligent automation solution
Capgemini’s partnership with Trintech – underpinned by Cadency’s capability to standardize the entire R2A process, reduce the cost of financial close, and improve and maintain your risk profile – is helping us deliver a range of business outcomes to our clients. These include:
- Reduction in outstanding open items to less than 90 days
- Over 50% reduction in write-offs
- 95% reduction in rejections
- 28% increase in on-time review and approvals.
Contact Business Services
To learn more about how our Capgemini and Cadency can increase the efficiency, shorten turnaround times, and enhance the quality of your incoming content and queries, contact: firstname.lastname@example.org