A large number of organizations are expanding their businesses internationally, either growing organically or via mergers and acquisitions. With growth comes change and additional reporting processes, often followed by confusion and delays in the reporting of financial statements.One area that frequently seems to be an issue is the inter-company accounting process.
Unfortunately, many organizations do not see inter-company accounting as a core function of their finance department, due to other pressing initiatives that appear to add more value. However, as organizations undertake other process improvement initiatives, particularly around improving the financial close, they are discovering that their inter-company processes are less than desirable.
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