Continuous Accounting in the GUS-OS Suite: Integrated Finance in the ERP System as a Success Factor

But this is much easier said than done. As a result, it is not uncommon for companies to take up to three months to prepare their annual financial statements, not to mention consolidated financial statements or affiliated companies.

The digital transformation is fundamentally turning the classic CFO organization with its usual tasks and team structures on its head.

Finance teams and controlling departments are increasingly facing the challenge of reorganizing themselves into modern and efficient corporate units. However, this is much easier said than done. As a result, it is not uncommon for companies to take up to three months to prepare their annual financial statements, not to mention consolidated financial statements or affiliated companies. 

Highly qualified employees are still tied up with routine tasks and are therefore hardly available for qualified activities. In the annual financial statements, for example, entire teams have to assist the auditors, carry out research for them, prepare facts, etc. These teams bear the burden of a fragmented and heterogeneous in-house IT landscape, which, on closer inspection, is often very cost-intensive to maintain.

This is astonishing, as the area of finance & controlling is actually predominantly characterized by recurring tasks and activities that could easily be delegated to software. To move from reactive to proactive financial management, end-to-end concepts, integrated ERP and financial accounting systems and, above all, a new data culture of traceability and transparency are required. Continuous accounting systems can provide the decisive remedy here. They transform the effort required at the end of the year, half-year, month or quarter into a continuous process that makes balance sheet information available at all times. In this way, intelligent automation can create space for value-adding activities as part of a digitalization strategy. 

Find out how this can be achieved in your company in our free webinar on October 19, 2023, 10:00 a.m.

The focal points at a glance:

• Continuous Accounting Systems: Basics
• Integration with ERP functions
• Audit-proof cloud document archiving
• Continuous HGB-compliant inventory valuation
• Compliance and workflow-controlled document release
• On-Top: OCR Digital Invoice Processing
• Integrated digital contract management
• Intercompany: liquidity planning and cash pooling
• Task planning, automatic accrual posting
• Creation of financial reports at the touch of a button

Your added value:

• Professionalize your finance department and free it from tedious tasks
• End-to-end automation of recurring processes such as valuation, compliance, postings, accruals, deferrals, documentation, etc.
• Audit-proof archiving, gap-free communication, transparent reporting at the push of a button
• and much more.