It is likely that your current workflow process is built on obsolete software that requires many iterations of the same reconciliation for the ETL process with tools like FDMEE / FDM.
This is the wrong way to do this work and it is not even logical in its current state!
We say only use ETL tools like FDMEE and FDM only once AT THE END of the reconciliation process and save yourself a great deal of pain, money and time.
The existing consolidation / OLAP / inventory / budgeting data consolidation, reconciliation process takes too long and costs too much, because it is broken. We fixed it.
The better way to do this is to only load data through your ETL product one time.
AFTER the entire reconciliation AND management reporting is done!
The only way to speed the Close is to change the fundamental workflow and changing it will not only end a lot of suffering, we save a ten-person finance team over USD$20,000 a month in staff time that is now totally wasted.
It's smarter, faster and cheaper to automate the reconciliation process first.
Get rid of the error prone spreadsheets and validation tables. They only provided hints anyway so just get rid of them. First, use UniversalRecon℠ to make sure all the accounts have been updated. If they have not been updated, then there is no sense wasting time on a recon, instead use the time to contact the guilty party and get the data you need. With UniversalRecon℠ you can see ahead of any work if the data has been updated.
Let UniversalRecon℠ Instantly show you where the differences are. We provide that at the: Amount, account, source and transaction level. The path then is clear to make the needed updates and SOX compliant journal entries in the sub systems to make corrections.
Step three: Complete your management reporting BEFORE the close to validate it and avoid the shame of: Plugs, topside entries, correcting entries, angry co-workers whose commission statements are wrong…We end all that madness.
Then and only then, is it smart to load your target or consolidation system with an ETL tool like FDMEE.
This takes days off the process that is otherwise horribly difficult, and companies can finally deploy staff to do the analytics that matter based on good data, instead of struggling to complete the close with flawed processes and tools.