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BizReport : White Papers : Finance
It's Time to Update Your Consolidation System: 10 Warning Signs
Most companies need to accelerate their accounting close. Ventana Research's recent benchmark research found that, on average, companies take longer to complete this process than they did five years ago: 8.0 days vs. 7.5 days for the quarterly close and 7.2 days vs. 6.5 days for the monthly one. Only 38 percent of research participants reported they complete their quarterly close within five or six days, down from 47 percent previously.
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