Record to Report

What is Record to report?

Record to report (R2R) is a finance and accounting management process that involves collecting, processing and presenting accurate financial data. R2R provides strategic, financial and operational feedback on the performance of the organization to inform management and other stakeholders. 

Why are finance organizations struggling to provide financial data to its stakeholders?

Over the past three years, the share of finance analytics budget has increased by 50%. Despite that increased investment, 54% of finance organizations still struggle to provide financial data and reports that stakeholders can rely on to inform their decisions. 

However, there are a few challenges with record-to-report: 

  • Accuracy requirements of regulators and shareholders 
  • Period-to-period consistency 
  • Standardization 
  • Data collection, confirmation and transformation 
  • Time-sensitive with operational spikes driven by month-end closes
We give time back for accountants to analyze variances and to offer business feedback. This eliminates the need to jockey spreadsheets and to perform data entries. We also offer built-in end-to-end auditability, that helps lineage for easier SOX audits. Our solutions complement your existing R2R systems. They automate manual work and help uphold exceptions. Here is a solution set that could get you started:

Additional Resources