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R-Close

R-Close. The Efficient Solution for Month End Close and Recon. Challenges we faced…. Where to store all reconciliation documents and period closing supporting documentation How to ensure completeness of recon documents

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R-Close

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  1. R-Close The Efficient Solution for Month End Close and Recon

  2. Challenges we faced… • Where to store all reconciliation documents and period closing supporting documentation • How to ensure completeness of recon documents • How to measure, monitor and controls time when collecting and approving recons • How to grant access to recon documentation for country ops and controllers • How to eliminate multiple printouts and paper approvals • How to ensure SOX compliance and faciliate audits • …

  3. Our response: new tools that is… • Simple and easy to use • With a well known user interface thus does not require complex training • Easy and quickly deployed • At relatively low implementation and maintenance costs

  4. Introducing R-Close • SharePoint based • Delivering central repository for all reconciliation documents and approvals of authorized managers • Dedicated for finance organizations with multiple entities and high standards regarding internal and external controls, quality and compliance • Allows you to • Manage your closing checklist • Monitor closing progress and implement controls: correctness checks, completeness check, SOX approval checks • Evaluate the quality of individual recons and reporting KPIs based on the data

  5. Our key objectives • One place to store all reconciliation document and related approvals • Accessible via internet explorer One central repository Electronic approvals • Electronic approvals following clear ownership rules • Elimination of printouts Monitoring and reporting • Central checklist available to all actors • Monitoring progress of month end closing process • Reporting key performance figures

  6. Meet the objectives and deliver your recons in 4 steps: • Configuration • Recons upload • Approvals and evaluation • Reporting and monitoring • Recons review • Approvals (SSC, Country) • Evaluation • Log of upload and approvals • Country code • Account category • CoAdefinition • ME closing checklist • Recon completeness check • TB correctness check • Progress monitoring • Internal / SOX control compliancy • Recons delivery • Attachments with supporting documentation • Data validation • Upload One repository Electronic approvals Monitoring and reporting

  7. Why R-Close • SharePoint based using existing infrastructure and licenses • Integrated with Excel  easy to use and adopting existing templates • No training required • Fast implementation at low cost • Scalable • Can be customized and optimized following specific process requirements

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