Topics: Record-to-report cycle
Posted on June 11, 2021
Written By
Siddharth Sujan
The everchanging landscape of modern marketplaces and legal compliance has led to a massive shift in the way finance teams’ function. With rising expectations from business leaders and clients, it’s vital that finance leaders leverage financial information to drive performance analysis and facilitate informed decision-making.
Record-to-Report, or R2R, is a highly specialised finance function that can have a direct impact on a company’s future growth. The core objective of R2R is to provide strategic, financial and operational feedback on the performance of the business, in addition to producing financial statements compliant with local accounting standards.
In today’s remote-driven workplace, it’s more crucial than ever for businesses to follow best practices when it comes to running and maintaining an efficient R2R function. The key however is to adapt processes to changing market trends and stay one step ahead of the competition.
Here are six record-to-report practices that you should consider following in your organisation:
QX offers a wide range of R2R outsourced services for businesses across industries. Our R2R solutions include outsourced FP&A, general ledger accounting, audit support, and VAT compliance amongst others. We follow a unique partnership approach which allows us to work closely with the clients to identify their specific organisational needs and deliver highly customised solutions.
Get in touch with us and speak with our experts to know more about our R2R services.
Originally published Jun 11, 2021 07:06:39, updated Jun 20 2024
Topics: Record-to-report cycle
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