ALWYN PRETORIUS: How technology helps avert fiascos in financial reporting
Firms cannot underestimate the importance of embracing technology in every aspect of business
With financial year end looming for many SA businesses, corporate finance teams responsible for year end consolidation and reporting are either dreading what’s to come or moving forward confidently.
The difference between the two hinges in great part on how each business’s finance team spends its valuable time in the reporting process. In environments that take a manual (spreadsheet-based) approach, finance teams are likely to be spending the bulk of their time collecting and consolidating data from multiple sources, instead of focusing on the analysis and presentation of an organisation’s results and forecasts. ..
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