Continuous Financial Improvement

I guess I was ahead of the curve 8 years ago.

https://strategiccfo.com/the-new-age-of-accounting/

Eight years ago I named my consulting business “Continuous Financial Improvement.” I would tell people I was the financial part of continuous improvement. Being a CFO in manufacturing I saw the value of continuous improvement. I wanted people to understand that the goal of being the best never ends. You can always do something better or faster.

Now SAP has come out with continuous accounting software and there are continuous accounting articles popping up. Their definition of continuous accounting is doing a faster close at the end of the month. CMAs have been talking about this for years. With all the technology we are surrounded with in accounting, there is no reason why a company can’t close their books quickly at the end of the month.

There are many nay-sayers and traditional accountants that will argue, “It can’t be done.” It is a real change for many accountants. A change in philosophy. A change in thinking and we all know change is not easy. My favorite saying by Dr. W. Edwards Deming, “It is not necessary to change. Survival is not mandatory.”

I leave you with the road less traveled by accountants.