Long close processes damage morale and impact decision-making | Amplify
“It’s the equivalent of a sports team playing solely in defence. Having the right technology in place puts you on the front foot, ready to attack the month with real confidence.”
Adam Shilton, Head of Business Advisory, Thinc
Sage’s survey found the top obstacles impacting the close process were data manipulation in spreadsheets and data imports/exports. These manual tasks have a significant impact on the time to close, slowing the close process by 36% on average and leading to businesses making decisions based on stale information.
Similarly, the time spent on each manual data import or export adds up and contributes to a slower close. Respondents who were most impacted by manual data imports and exports on average had a close process that is 25% longer than those who were only slightly impacted.
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Amplify 01, 2022
In this issue we look at the ways companies can grow despite the uncertain economy, explore how SMEs form a solid and flexible technological core and offer advice on how to create a strategy to address current cyber security risks.Download Amplify Magazine