Accounting teams are increasingly expected to deliver real-time reporting on their organization’s performance. This is difficult when accounting processes are so often based on providing a snapshot into performance on a past date. Continuous accounting is an approach that helps finance and accounting teams provide real-time information and unlock insights faster.
It involves using automation and software to conduct accounting processes, providing a continuous stream of data. This gives accounting teams better visibility and enables them to focus on unlocking insights to help the business quickly. It also transforms the accounting workload; instead of peaking at the end of each period, it happens continuously throughout the period.