Retrospective & Close Trends

Retrospective and Close Trends

In addition to placing the current close under a microscope, Close Analytics provides all the data you need to fine-tune  your close process from period to period.

Where are the repeated bottlenecks in your process that are causing certain items to habitually fall behind? Which staff members are consistently late in their assignments? Are you seeing improvement in the number of days it takes to close the books? How should you  best adjust  workload assignments or due dates? The Retrospective and Close Trends tabs in Close Analytics have the answers.

The Retrospective tab displays a view similar to the Current Close, but for any prior  period , your team used FloQast. Unique to this view  is  total days to complete the close and a final tally of status across all Checklist items and Reconciliations. Use this as a look-back guide to how a prior close was executed, and engage the team in a discussion  of how to improve.

The Close Trends tab shows a longer-term perspective of how your close process has evolved over time.  This tab only applies to individual entities and does not apply to the all entities view.  Teams focused on shortening the number of business days to complete their close use this page to track progress and celebrate improvement. It can show trends overall, or by specific groups of folders. In each case, the pace line for “Set Deadlines” shows how the team performed vs. its overall goal of days to complete the close.

Each of these - Retrospective and Close Trends - also displays data by folder and team member for late assignments to spot trends and zero in on where to make impactful adjustments to improve your close timeline.