CODA has applied its Manager process control tools to produce a better, faster way to manage and carry out your period close processes and financial reporting.

With CODA 2control Close, your period close can become more:

• Visible & coordinated – the system takes your project plan for the period end and automatically generates a shared, secure website, to provide constant coordination of the processes and an instant overview of their status. It enables each participant to see the relevant information for each procedure (depending on that individual’s role and access rights). This includes details of the people involved, as well as the tasks, statuses and attached documents.
• Repeatable & refinable – the starting point is your own best practice model for your period-close processes. All the steps are set out, so each one can be followed in the same order each time – guaranteeing consistency. They can also be easily fine-tuned to further improve their efficiency and effectiveness – without needing to learn specialized programming skills or constantly call upon in-house IT resources!
• Controlled & integrated – each task can be assigned to owners, along with timescales and any dependency on other tasks, whilst keeping all participants informed of what input is needed and when. This includes: automated emails to prompt actions by participants; InfoPath® forms to gather the information from source systems for review, enable online authorization and feed the results back into those systems; plus automated initiation of particular tasks, when preset conditions are met. It also enables control over the process while it’s happening – for example to reassign a stalled task.
• Auditable & secure – every documented step in the process has an owner, and each change made is recorded in a tamper-proof audit trail to show what was done, when and by whom!