Financial Close is a stage in a financial agreement where conditions have been satisfied or waived, documents executed, and draw-downs become permissible.

It is one of the most important processes of Financial Governance with respect to managing activities related to closing and "the last mile" of finance. For example; when companies disconnect from their ERP system to enter into an “individual” system such as Excel and / or database ERP and close budgetary data. The last mile may be more or less long depending on how much the company has invested in the ERP system but, regardless of this, any company is always facing his last mile.
Typical activities in this area have, reconciliation between accounts, adjustments with any reclassification cycles / allocation, and deliver financial and regulatory reporting to the authorities (for example, the 10-Q / 10-K in the United States or the Note for Integrative Italy).

Financial Close requires a Software that can automate the “last mile” of finance through built-in analytics, corrections and entry adjustments as well as the automatic generation of financial reports. This maximizes the efficiency of reporting and reduces the risk of missed steps and errors.

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Tagetik CPM is the first completely financial closed-loop, double entry CPM solution, that unifies in a single product all Corporate Performance Management processes and Financial Governance processes for data consistency and reliability.
The only solution with Built-in processes and advanced functionalities able to comply with the most complex regulatory requirements, helping companies automate processes, and obtain the necessary transparency and data accuracy for compliance.

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