Improving Intercompany Reconciliation for a Faster Close

In 2007, businesses moved beyond the initial need to comply with legislation like the Sarbanes-Oxley Act (SOX) and instead focused on driving sustainability and control into their corporate processes. Of the various initiatives supporting this shift, the fast close--a concept used to describe a corporation's ability to complete its accounting cycles and close its books quickly--is perhaps one of the best documented.

This SAP/Business Objects paper examines the issues behind intercompany reconciliation and outlines how certain companies have made impressive progress in improving the flow of communication during the intercompany process, removing it from the close's critical path and improving the quality of data.