We do appreciate it. View details. Flag as inappropriate. Visit website. More by Vito Technology See more. Vito Technology. Are you ready for a fascinating journey through our solar system? Let's go! Stay up to date with the latest astronomy events and current space news, get notified about them in time. Learn about the objects that you see in the sky, explore their internal structure and 3D models. Witness any celestial event and the state of the sky on any chosen date in the past, present, or future.
Sky Map Easily find stars, planets, constellations and other celestial objects in the sky above you in real time. Observing Tips Find out what sky events and celestial objects are visible from your location and when to see them. Adopting technology, improving processes, and empowering people should have clear, tangible benefits to the organization. For instance, evaluating key performance indicators KPIs for timeliness, accuracy, efficiency, and employee satisfaction, among others, enables organizations to establish baselines and review results to facilitate continuous improvements over time.
Additionally, these metrics allow finance leaders to see how their department is performing so they can manage their operations efficiently and enable data-driven decision making. More data might seem alarming at first—simply too much to handle. As sources of information continue to expand across every business division, the volume of data in accounting and finance is increasing as well.
Nevertheless, by applying the principles of Continuous Accounting, automating accounting processes, and improving legacy processes, strategic accountants are unleashed to analyze data, which gives senior finance leaders timely, accurate, and consumable information.
In other words, Continuous Accounting delivers real-time intelligence and unlocks competitive advantages for finance and the entire organization its team members serve. Without question, getting started on putting a Continuous Accounting approach in place might be the hardest part.
Many organizations fear finance transformation projects. Horror stories of failed attempts, as well as the confusion of figuring out exactly where to start, leave many quitting before they even begin. The best-performing finance teams embrace this journey and embark on it by building a culture of continuous improvement with technology, processes, and people for the benefit of the entire organization.
They know that success means setting goals and always adapting, innovating, and improving in order to meet them. Here are five levels of the Continuous Accounting maturity model see Figure 2.
While technology has revolutionized the modern business world, the R2R process has remained unchanged since the days of Lotus Notes and inch paper. Talented accountants are spending most of their time performing rote tasks that take them away from value-added activities such as the enhanced analysis and strategy that drew them to this profession in the first place.
The Continuous Accounting model utilizes individualized tools and integration to automate the R2R process. An investment in purpose-built technology to automate and streamline existing processes must be led by a strong leader with a vision and mandate for change. An empowered change agent can sell technology as a tool that not only delivers speed and accuracy but transforms the way accounting and finance work as well.
Cutting-edge, best-in-breed software provides extensive automation and support for complexity and volume. With this in place, the financial close is managed effectively, issues are identified and addressed as they crop up, and analysis can be performed throughout the month. The concerns that controllers previously had about overtime, incomplete work, errors, and not completing the close on time disappear, and frontline managers and senior accountants have broad autonomy to balance workloads and make decisions.
The road to this point of the process is paved with questioning conventional wisdom, challenging organizational inertia, and rebuilding the R2R process with an emphasis on real-time processing.
This means empowering people to make decisions, expanding their strategic and analytical abilities, and maximizing their skill sets. With the right tools in place, the financial close becomes a nonevent with a combination of technology and process redesign. Accounting shifts its focus to driving value for the business by proactively identifying issues and partnering with other teams.
Work is broken down into smaller and smaller chunks, more automation is brought into play, and reconciled and validated actuals are produced with virtually no added work.
In this new environment, accounting and finance are constantly looking for new ways to use technology, while real-time data and metrics allow management to benchmark success, coach their professionals, and continually identify little ways to improve.
These small changes add up and lead to a daily increase in efficiency and effectiveness, encouraging a companywide culture of continuous improvement. As mentioned earlier, the first step in any process is always the hardest one to take. Implementing Continuous Accounting is certainly no exception. Step 1: Analyze your current state. What are your greatest challenges? Consider visibility and efficiency gaps, determine your exposure to risk, and ask the members of your team to help you identify the most painful, inefficient, and risky accounting processes.
The actress — along with screen husband Shia LaBeouf and director Kornel Mundruczo — wanted the birth scenes early on in the film to be as authentic as possible. Kirby spoke to several women about how they coped after losing their baby. She spent lockdown in the house she shares with her sister and some friends. Jury head Cate Blanchett will be in attendance, as will Tilda Swinton. There will be a socially distanced red carpet, masks perfectly suited to Venice and health and safety protocols.
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