Reduce the pressure with a centralized and integrated approach
SUMMARY
This article outlines three key challenges corporate Finance teams in mid-sized organizations face during month-end close—and how to mitigate them.
Reading time: 3 minutes 40 seconds
Month-end: a repetitive and often chaotic sprint
In mid-sized organizations (100 to 2,000 employees across 5 to 15 departments), month-end closing remains a high-pressure period for corporate Finance teams. The stress stems from a series of critical tasks that must be completed in a short window, with multiple dependencies across teams and systems. The challenge is twofold: deliver accurate financial statements quickly, while also meeting management’s expectations for timely analysis. This regular pressure impacts not only employee well-being, but also the reliability of the reported data. It’s essential to rethink these processes to gain efficiency, reduce the risk of errors, and—most importantly—free up time for strategic analysis.
Challenge #1: Limited visibility on recent journal entries
A key challenge is the delayed and limited access to new accounting entries—especially in ERP systems that don’t update in real time or have restricted access. Finance teams must often wait for other departments to complete their entries, creating bottlenecks.
To address this, organizations can adopt reporting tools that connect directly to accounting databases and retrieve updated entries at regular intervals. Automating interdepartmental journal flows and centralizing data in a single source of truth helps reduce delays and friction.
Challenge #2: Extra-accounting data scattered in Excel
Processes not handled within the ERP (such as accruals, provisions, or cost allocations) are often managed in Excel files shared between departments. These files typically lack proper governance, version control, and introduce a high risk of manual errors or data loss.
One way to overcome this challenge is to centralize these processes within an FP&A platform that allows users to input their data into a structured model—still in the familiar Excel interface, but securely connected to a governed database.
Challenge #3: Ineffective interdepartmental collaboration
Poor coordination between departments (Finance, Operations, HR, Sales…) slows data collection, leads to duplication or inconsistencies, and disrupts the month-end flow. Communication typically happens via email, calls, or Excel files passed back and forth.
To mitigate this, it's useful to implement a structured collaboration environment where each stakeholder is responsible for a defined task, with clear deadlines, controlled access, and real-time visibility on completion status.
Conclusion
Reducing month-end stress starts with better data governance, automated access to accounting entries, and smoother collaboration across departments. FP&A SwiftFinance provides a robust solution to all these challenges: real-time access to updated journal entries, centralized management of non-ERP data in a governed analytical layer, and Excel as a familiar but secure interface. The result? Faster, smoother month-ends—and Finance teams who can focus on analysis instead of data wrangling.
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Month-end stress? Don’t worry—There’s a better way