{"id":812350,"date":"2025-12-16T14:33:13","date_gmt":"2025-12-16T13:33:13","guid":{"rendered":"https:\/\/www.devoteam.com\/expert-view\/data-problems-finance-close\/"},"modified":"2025-12-16T14:33:13","modified_gmt":"2025-12-16T13:33:13","slug":"data-problems-finance-close","status":"publish","type":"expert-view","link":"https:\/\/devoteam.info\/cz\/expert-view\/data-problems-finance-close\/","title":{"rendered":"Your Finance Team Can’t Meet You During Month-End Close? You Should Blame Data"},"content":{"rendered":"\n

A blog post about Finance <\/em>? Really ? Yes.\u00a0 Bear with me.<\/p>\n\n\n\n

How do you test the digital maturity of any company? Here\u2019s my simple test: try to get a 30-minute meeting booked with a couple of key operational people from their finance team. Oh, and also, try to book it in the first week of a new month or a new quarter.<\/p>\n\n\n\n

The response is almost always the same: a polite decline, a suggestion to meet in two weeks (if you\u2019re lucky). To quote Tom Waits: \u201cIt’s closing time.<\/em>\u201d The books are being closed, and the finance team has effectively hung a big, fat “Do Not Disturb” sign on its door for the entire business.<\/p>\n\n\n\n

Which leads me to a fundamental question:<\/p>\n\n\n\n

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In an era of cloud computing, AI, and big data, why haven’t I encountered a single company where the financial close isn’t a manual, all-hands-on-deck fire drill?<\/p>\n<\/blockquote>\n\n\n\n

Why are we still so dependent on sheer manpower to perform one of the most fundamental business processes? This is what I will explore in this article. Read on not only to get an understanding of why things are the way they are, but also how to have what I call a no-drama close.<\/p>\n\n\n\n

Why Month-End is a Mess in Finance<\/strong><\/h2>\n\n\n\n

From the outside and to non-Finance people, it may seem simple: add up the revenues, tally the costs, and produce the core financial statements. But as a data<\/a> & AI strategist<\/a>, when I look under the hood, I actually see a perfect storm<\/em> of systemic issues that make this “simple” task a huge effort. Every single time.<\/p>\n\n\n\n

Let’s look at some of the reasons why.<\/p>\n\n\n\n

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1. Garbage in, Gospel out<\/strong><\/h3>\n\n\n\n
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The good news for our Finance Bros is that the core of the problem, of course, isn’t finance; it’s the data flowing into<\/em> finance. The finance team is often the last stop for data from dozens of systems: the CRM, the ERP, HR platforms, logistics software, etc. If that data is messy, inconsistent, or late, finance doesn’t get to do accounting. They have to do data janitorial <\/em>work. They spend days, not hours, manually cleaning, validating, and reconciling numbers that should have been correct at the source. It’s the classic “garbage in, gospel out” problem, where they’re expected to produce pristine reports from flawed raw materials.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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2. Control vs. Efficiency<\/strong><\/h3>\n\n\n\n
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Finance professionals are, by nature and necessity, meticulous and risk-averse. They are the gatekeepers of the company’s financial integrity. This instinct for control is vital, but it can also show up as a deep-seated scepticism towards far-reaching automation. A process run by a machine can feel like a “black box.” Many finance leaders want their teams to be able to “touch and feel” the numbers. The result? A preference for the familiar, manual control of an Excel sheet over a more efficient, automated system they don’t fully trust yet.
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3. The Human Factor or “This is How We Do It”<\/strong><\/strong><\/h3>\n\n\n\n
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Beyond the technical and process challenges lies the most powerful force in any organisation: inertia. People get comfortable with their routines. The month-end scramble, as stressful as it is, is a known quantity. The team knows how to handle it. Proposing a new system or a redesigned process means learning new skills and venturing into the unknown. Often, this change is considered a greater risk than simply struggling through the “busy week” one more time. It’s not laziness; it’s a natural aversion to change.
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4. The Wrong Question<\/strong><\/strong><\/h3>\n\n\n\n
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The status quo persists because we ask the wrong questions. We ask, “Did we close the books on time?” instead of asking:<\/p>\n\n\n\n