Balance Sheet Substantiation

At many firms the financial close process at period end is still characterised by fragmented manual processes and re-keying of data. This presents too many occasions for human error, carries a high cost, lacks the proper operational controls and can put firms at risk of mis-statements.

AMFCO TLM Balance Sheet Substantiation increases productivity, control and visibility at the core of the financial close process.

TLM Balance Sheet Substantiation delivers:

    1. Reduced risk through automated, real-time reconciliations applied daily, monthly and quarterly at both account balance and transaction level.
    1. Significant cost reductions by retiring multiple legacy systems and Spreadsheets, while reducing the number of FTEs required to perform the financial close in a shorter period of time.
    1. Increased productivity through workflow-based processes for account ownership assignment, distribution of reconciliation results, exception management, approvals, sign-offs and reporting.
    1. Improved risk and control at the core of the financial close process due to more proactive, exceptions-based processes; thereby highlighting data that has failed to match and providing the reconciler with a resolution path to find the underlying cause.
    1. Enhanced visibility into the financial close through auditable workflow of all actions and activities to CFOs, controllers, reconcilers and auditors
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