Will closing the books this quarter be harder than last?

By: Jane Thier.

Omar Choucair, CFO of financial close software provider Trintech, knows why his clients are struggling and how they can mitigate the difficulties.

With financial teams grappling to close their quarterly books virtually, executives at Trintech, a SaaS business specializing in financial close software, surveyed its clients about how they were managing the process. The key result: more than 70% said they would not be able to do it without the support of automation technology.

According to Trintech’s flash poll of its 3,500 clients, 90% who made the investment in financial close software felt “very confident” they would meet public filing deadlines; 83% said they felt the same level of difficulty as last quarter, which was also completed virtually, and 9% said they felt it was more difficult.

Source: CFO DIVE (2020)

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