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Accelerated Financial Reporting Manager

AFRM gives users, managers, and executives the visibility they need to manage their role in the financial close process. AFRM is a task-centric system based on the guiding principle that all information needed to complete or audit a task should be presented together with the task. When users start a task, the procedures, templates, supporting documents from current and prior periods, are provided to them.

Based on document management principles, AFRM monitors the status of the tasks, documents, and schedules to provide users at every level with the visibility needed to actively manage your financial close process, assure completeness, improve communications, lower audit cycle-time and cost, and continuously improve the close process.

AFRM improves visibility at three levels:

  • User/Preparer's View: AFRM gives the user/preparer complete visibility of the status of their tasks, as well as the tasks of their team members, enhancing their ability to self-manage and cross-manage the tasks that need to be completed.
  • Manager's View: AFRM give the manager(s) real-time information on which to make real-time decisions. Managers have actionable data on status, exceptions, delays, enabling them to support decisions and keep the process on-track.
  • Executive's View: Executives gain additional confidence in the quality of the financial reporting with visibility to the status of the overall process and the ability to review reports and analysis in real-time. They are assured that financial reports will be ready for upcoming decisions and informational meetings.

AFRM can be used for more than closing! It has been used to manage task-oriented processes related to audits, compliance, budget, forecast, and merger/acquisition activity. Businesses use AFRM to continuously improve their processes, and are better prepared to complete the process in the event of the unexpected.

Here is a white-paper explaining how the AFRM solution streamlines your financial reporting process.

Contact Latitude 44 today to request more information about the AFRM solution and to learn how it can help you control complex financial reporting processes.

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