Financial close software, also called accounting close software, provides tools to help businesses complete the financial close cycle. Many organizations perform financial close at the end of each month, during which accountants within an organization use this software to ensure the books are accurate and any transactions were successfully completed. Tasks, such as bill payment and delivery, expense approval, and lead importing, will be laid out in checklists and checked off once completed. Financial close products often include features such as individual task allocation, reconciliation management, and databases of past accounting close data organized by month and transaction type. Individual progress and deadlines for each period can also be tracked by the accounting team throughout the cycle. These tools typically integrate with spreadsheets and various accounting tools to help users comprehensively document relevant data and identify noteworthy findings or inconsistencies. They may also integrate with or come packaged with other corporate performance management (CPM) features such as financial consolidation or budgeting and forecasting.
To qualify for inclusion in the Financial Close category, a product must:
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BlackLine solutions empowers the accounting and finance function to manage and control the end-to-end financial close process by automating accounting workflows, providing a centralized and secure workspace to perform period-end accounting activities, and streamlining financial reporting. The resulting absence of complex, manual, and error-prone steps inherent in dated accounting practices, enables teams to focus on analyzing discrepancies and uncovering new ways to create value for the organization. This Continuous Accounting approach that eliminates non-value adding activities and evenly distributes tasks across the close, facilitates continual monitoring for errors, fraud, and inefficiency, so accounting and finance leaders can innovate to sustain competitive advantage, even in the face of growing workloads and increasingly stringent regulatory environments.
Your business is evolving. Your systems should evolve too. Achieve your goals more successfully with Prophix’s innovative Corporate Performance Management (CPM) software. Improve profitability and minimize risk when you automate repetitive tasks and focus on what matters. Budget, plan, consolidate and report automatically. Whether in the cloud or on-premise, Prophix supports your future with a platform that flexes to suit your strategic realities, today and tomorrow.
CCH Tagetik is a unified software platform that improves all of your financial processes including budgeting, planning, forecasting, financial consolidation, financial reporting and disclosure management. CCH Tagetik can be deployed as SaaS, private cloud, or on-premise. The flexibility to seamlessly migrate from one to the other means that we can match your company's strategy today or in the future. Over 1,000 customers around the globe have increased efficiency, reduced risk and saved money with CCH Tagetik.
Vena Solutions redefines how medium and large sized companies manage their budgeting, planning and revenue forecasting. Vena combines a centralized database, sophisticated workflow, powerful reporting and advanced analytics with Excel to create acloud-based financial planning and analysis (FP&A) solution. Over 500 of the world’s best companies use Vena to get trusted insights that drive faster, smarter business decisions. Vena is the fastest growing company in its sector and recognized leader in customer satisfaction and product usability.
Oracle Financial Consolidation and Close Cloud is a cloud-based solution built to optimize the close. Financial Consolidation and Close Cloud is designed to help minimize risk, provide transparency to the process, and accuracy to the results.
Host Analytics is the industry’s leading provider of scalable, cloud-based enterprise performance management (EPM) solutions. Finance is central to making the organization run efficiently and enabling it to meet its goals. We help you achieve this with a scalable, cloud-based platform that automates planning, consolidation and reporting. This reduces manual work and errors, helping you get things done faster and creating time for value-added, strategic work and analysis. The result is an organization that adapts quickly, stays aligned and ahead of the competition.
Axiom arms finance teams and executives with the best tools for budgeting, forecasting, planning, reporting, and more so they can analyze results, model the future, and make more strategic decisions. Axiom Healthcare Suite is uniquely designed to help healthcare organizations realize their missions featuring enterprise planning, cost and decision support, clinical analytics and more to help you realize your mission and improve both financial and clinical performance. Axiom Financial Institutions Suite features budgeting and planning, profitability, and analytics. Built upon proven industry best practices it helps banks, credit unions, farm credit, and other non-discretionary lenders make data-driven decisions. Axiom Higher Education Suite, inspired by years working in university finance roles, delivers strategy-based performance solutions in a flexible, easy-to-use software.
Longview makes performance software for the Now business realities. Hundreds of thousands of business leaders from Global 2000 companies, operating in more than two hundred countries, leverage Longview daily to make strategic and immediate business decisions based on Now business realities. Our performance management software drives the advantage of planning with critical insights into vast and disparate data points. Longview brings budgeting, forecasting, tax reporting, analytics and the financial close to its single platform for out of the box performance management.
At Trintech, we pride ourselves on our ability to fulfill the needs of Finance & Accounting professionals ahead of anyone else in the market. We deliver innovative, world-class technology and services, each and every step of the way. We understand the deadlines, dynamics, and challenges of managing the Record to Report process. Today, over 3,100 clients across 100+ countries – including the majority of the Fortune 100 – rely on Trintech’s solutions to help streamline their high-volume transactions and GL account reconciliation, manage their journal entry process, speed their month-end close, and ensure regulatory and other compliance efforts.
ReconArt is a single-solution technology company providing an automated, fully web-based reconciliation solution to a diverse, global client base. Our reconciliation software delivers high volume transaction matching, exceptions management, reporting and analytics, period end closing, certification, journals and variance analysis. Common business scenarios that we handle: bank reconciliation, credit cart reconciliation, balance sheet reconciliation and close, accounts payables & accounts receivables reconciliation.
Workiva, the leading cloud provider of connected data, reporting, and compliance solutions, is used by thousands of enterprises across 120 countries, including more than 75 percent of Fortune 500® companies, and by government agencies. Our customers have linked over five billion data elements to trust their data, reduce risk, and save time. For more information about Workiva (NYSE:WK), please visit workiva.com.