Guest Author - Ashton Mathai, TRINTECH
In some situations, and especially recently, many organizations will send their employees home to work remotely in the face of health concerns. But the need to work remotely isn’t new. In fact, 43% of employed Americans work from home, and the role of the accountant places in the top ten most common remote jobs in the U. S.
However, working remotely can present a set of complicated hurdles for the office of finance, namely with their financial close process.
Working Remotely: The Challenge
When accountants are interspersed among many different locations, the likelihood that their close will be completed timely and accurately significantly decreases. Primarily, this is due to the tools used to complete the process. While spreadsheets are the most used means to complete the close process, they provide very little visibility and communication into the close cycle. Spreadsheet usage causes unnecessary complexity and problems within the workflow of finance and accounting teams— such as bottlenecks, uneven task distribution, and repetitive tasks— when they are already side-by-side in a single location. Read Full Article...