Smart Close

Achieving more timely and accurate reporting

Introduction

Financial institutions are under pressure to deliver improved and more transparent data. Current challenges are:

New regulations
New supervisory process
Manual workarounds because requirements are not implemented in the systems in time
Integration of Finance & Risk

Optimizing the closing & reporting process can support to solve these challenges

The Smart Close method supports banks to optimize their Closing & Reporting process. Our Smart Close methodology is a top-down approach that accelerates the closing process by focusing on areas and activities involved. Based on the experience of PwC's professionals and global best practices, it provides a framework that can be customised to meet our clients' individual needs.

Key benefits

Ready for the accelerated reporting deadlines;
Increased quality of the financial & regulatory information;
Increased transparency;
A more timely and accurate decision-making process;
Process alignment and improvement;
Improved stakeholder confidence; and
Enhanced forecasting and budgeting capabilities.

Smart Close diagnostics

PwC has developed a Smart Close diagnostics. The purpose of this diagnostic survey is to create insight in the performance and maturity of the closing and reporting cycle of your company. The survey questions are based on best practice closing and reporting procedures and are regularly updated to meet with market needs and to include new developments. The survey is accessible via this website. After submitting the answers you will receive a report with an overview of the current status of your closing & reporting process.