The Shifting Landscape of Financial Operations
Research from The Hackett Group, ACCOUNT-TO-REPORT PROCESS PERSPECTIVE: Accounting Process Excellence Drives Digital World-Class Finance Performance, reveals a shift in how top-performing organizations approach year-end close. While most companies still view it as a compliance exercise, digital world-class organizations have transformed it into a strategic planning platform. The insights in this research have important implications for organizations using enterprise systems like Yardi.
While most companies still view the year-end closing process as a compliance exercise, digital world-class organizations have transformed it into a strategic planning platform.
You can do the same and we’re here to support you.
The Performance Gap
The research shows a striking difference in how leading organizations operate:
- 58% lower Overall operational costs (see FIG. 1)
- 48% more time spent on forward-looking analysis (see FIG 2)
- 96% automation of journal entries (see FIG. 4)
Beyond Efficiency: The Strategic Advantage
Leading organizations have discovered that an optimized year-end process delivers three critical advantages:
- Forward-Looking Insight
Instead of just reporting what happened, these organizations use their year-end process to:
– Identify emerging trends
– Spot optimization opportunities
– Support strategic planning
– Enable proactive decision-making - Resource Optimization
By automating routine tasks and standardizing processes, they:
– Free up strategic talent
– Reduce manual intervention
– Improve data accuracy
– Enhance analytical capabilities - Competitive Edge
The streamlined process creates:
– Faster access to critical insights
– Better-informed decision making
– More agile response to market changes
– Enhanced stakeholder confidence
The numbers say a lot, however, the real story is in how these organizations have fundamentally reimagined their account-to-report process.
Your Path to Transformation
Achieving these results requires more than just technology—it demands a comprehensive rethinking of your account-to-report process. With proper planning and expert guidance in Yardi implementation and advisory services, organizations can capture significant strategic advantages and position themselves for sustainable growth in today’s competitive real estate market.
Key areas of focus include:
PROCESS DESIGN
- End-to-end process optimization
- Standardization before automation
- Clear ownership and accountability
- Built-in controls and validations
TECHNOLOGY ENABLEMENT
- Strategic Automation
- Data integration
- Single source of truth
- Advanced analytics capabilities
PEOPLE AND SKILLS
- Shift from data collection to analysis
- Enhanced decision support capabilities
- Cross-functional collaboration
- Continuous improvement mindset
Taking Action
The gap between traditional and world-class performance represents both a challenge and an opportunity. Organizations that seize this opportunity will position themselves for:
- More informed decision-making
- Better resource utilization
- Enhanced competitive position
- Improved stakeholder value
Next Steps
Ready to transform your year-end close from a compliance exercise into a strategic advantage? Our Advisory Services team offers a complimentary Business Process Review to:
- Assess your current processes
- Identify optimization opportunities
- Develop a transformation roadmap
- Create an implementation plan
Don’t let another year-end close pass without capturing this strategic advantage.
Book your complementary consultation for Advisory and Business Process Review today.
