From monthly close marathons to daily financial confidence. This guide covers continuous close methodology, task automation and scheduling, reconciliation cycle time reduction, and more.
Continuous close methodology
Continuous close methodology is a core capability within Predictiv, designed to streamline operations and improve visibility. The implementation follows best practices while remaining configurable to meet your organization's specific needs.
Task automation and scheduling
Our Framework draws on recognised best practices, including Lean Management, Six Sigma, and the principles of Hyperautomation (encompassing Robotic Process Automation, Artificial Intelligence, and advanced analytics). The high level objectives of DRIVE are:
- Faster - reducing the number of hours required for a given task
- Better - improving data quality, by reducing errors
- Safer - improving controls
Return on Investment for digital transformations can be significantly higher than investments in core business activities, and have significantly shorter payback periods. This proposal outlines:
- Principles and Benefits of Lean Management, Six Sigma and Hyperautomation
- The DRIVE Framework and how it will be embedded within your Finance function
- Expected Benefits and Benchmarks, including cost savings, process efficiency, and staff rebalancing
- Challenges and Success Factors in adopting the Framework
- Commercial Proposal based on a fixed fee, plus variable fee based on the number of hours saved through this initiative
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2. Underinvestment in Technology: ERP and automation solutions may not be updated regularly, or fully implemented, limiting the ability to streamline workflows. Process Automation: Widespread adoption of ERP modules, RPA, and workflow tools leading to increased efficiency.
Reconciliation cycle time reduction
We anticipate headcount rebalancing over time—from primarily transactional roles to increasingly analytic and strategic roles—while reducing overall headcount as efficiency gains are realised. 1 Why Finance Function Operations Become Suboptimal
Many organisations, especially in Sub-Saharan Africa, find their Finance functions evolving toward suboptimal operations over time due to:
1. - Regional Economic Fluctuations: In Sub-Saharan Africa, macroeconomic variability can disrupt investment and implementation timelines. Overall Reduction in Headcount: Traditional data-entry roles have shrunk as automation has advanced.
Close calendar management
Our Framework draws on recognised best practices, including Lean Management, Six Sigma, and the principles of Hyperautomation (encompassing Robotic Process Automation, Artificial Intelligence, and advanced analytics). This proposal outlines:
- Principles and Benefits of Lean Management, Six Sigma and Hyperautomation
- The DRIVE Framework and how it will be embedded within your Finance function
- Expected Benefits and Benchmarks, including cost savings, process efficiency, and staff rebalancing
- Challenges and Success Factors in adopting the Framework
- Commercial Proposal based on a fixed fee, plus variable fee based on the number of hours saved through this initiative
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2. - Limited Change Management Expertise: Insufficient planning for how new ways of working will be integrated and sustained. , generative AI, advanced analytics pl
Financial Management.
Month-end checklist automation
Our Framework draws on recognised best practices, including Lean Management, Six Sigma, and the principles of Hyperautomation (encompassing Robotic Process Automation, Artificial Intelligence, and advanced analytics). This proposal outlines:
- Principles and Benefits of Lean Management, Six Sigma and Hyperautomation
- The DRIVE Framework and how it will be embedded within your Finance function
- Expected Benefits and Benchmarks, including cost savings, process efficiency, and staff rebalancing
- Challenges and Success Factors in adopting the Framework
- Commercial Proposal based on a fixed fee, plus variable fee based on the number of hours saved through this initiative
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2. Underinvestment in Technology: ERP and automation solutions may not be updated regularly, or fully implemented, limiting the ability to streamline workflows. Process Automation: Widespread adoption of ERP modules, RPA, and workflow tools leading to increased efficiency. Overall Reduction in Headcount: Traditional data-entry roles have shrunk as automation has advanced.
Getting Started
To implement continuous close processes in your Predictiv environment:
1. Assess your current state - Review existing processes and identify improvement opportunities
2. Configure the module - Work with your implementation team to set up the required components
3. Train your team - Ensure users understand the new capabilities and workflows
4. Monitor and optimize - Track key metrics and continuously improve
Related Resources
For more information on related topics, explore our other guides in this collection.
Need Help?
Our team of experts is available to help you get the most out of Predictiv. Contact us to discuss your specific requirements and how we can help you achieve your goals.