69. Financial Transformation Live - Reduce Your Month-End Close Time

Introduction: Benchmarking the Month-End Close 0:48 

So, what are we going to cover? We are going to cover the statistics from a research report about how you can benchmark your own close and what that means for businesses of different sizes. So, what do the stats say about transformation, so, about the current time to close? So, what's interesting is that actually between different sizes of companies, there's a few days difference, but it's not massive. And the average days to close is somewhere between sort of 8.9 and 10.8. So, if you think about that, and if you compare that to your clothes, hopefully you'll have an idea about where that sits. Now, what is interesting is obviously smaller businesses are more efficient, but actually that efficiency changes when you get into the enterprise level. So, as teams get, as organizations get bigger, they do tend to invest more in technology, And so, one of the things that the space we like to play is in that mid space and working with those mid-sized businesses to streamline the efficiencies, because actually that's where they need the biggest support. Now, what's also interesting is the size of the closed teams. compared to total company size you can see that obviously as companies grow as they get bigger and so, they're getting to sort of the 500 employees mark actually the economies of scale start to kick in so, what we need to work on is those sort of those mid and those growing companies to make sure they're maximizing the efficiencies with entities and using technology to its greatest advantage okay so, there's four steps and I'm actually going to talk you through today so, um so, I'm going to talk about how you can document your month-end timeline and I'm going to talk about what a timeline is and I'll just give you a clue, it's not a process map. We're going to talk about how you identify dependencies and what sorts of dependencies you need to identify. I'm going to talk you through an introduction to identifying ways to prove and how you do it, what sort of questions you need to ask and then of course it's up to you then to go through and implement those changes. So, the first thing I would suggest you do is what we call a month-end timeline mapping.  

Four-Step Framework for Improving Month-End 03:05 

So, a lot of people, their first instinct when they go down sort of a month-end improvement journey is to actually start mapping out processes. And in my personal opinion, that is not the right place to start because the reality is that there's lots of processes that make up a month-end. So, you might be asking me, why are we doing a timeline versus a process map? So, Month-end in particular is a collection of processes that all have interlinking and interdependencies. So, rather than trying to address the full picture, actually what we can use this timeline to do is actually quickly identify where are the gaps, where are the dependencies across the different sections, and we can quickly identify where we need to focus to start bringing that day back. I have seen some gorgeous process maps and some very detailed month-end diagrams. And we've worked with people to build them out.  

Step 1: Timeline Mapping 04:05 

But actually, for me, this is one of those easy-to-use tools that you can do literally within an hour with your team to actually figure out where you need to focus your attention. So, you'll notice that what I've done is I've mapped out the month-end days. So, this is basically, come the end of the month, at what point do we then you know complete and what I'm trying to do is to think about how I can get everything back to day zero yeah so, the 30th of the month how do I or depending obviously what month it is how do I get everything back and as close to that zero month end as I can And, and here, I can start to see the gaps is I can start to look at like, when do we start things? When does something finish? How much time does something consume? And it's also then easier for me to see what are the elements that are relied, you know, which, which tasks, tasks have dependencies between them as well. So, so, this for me is the starting point in your month end mapping journey. So, the next piece you need to understand is what are the dependencies? So, if you think about that previous slide I showed you, we were looking at, say, for instance, sales invoicing. Now, sales invoicing, I'm not sure if anyone clocked it, actually started after we did payroll, right? And so, I had an interest. This is actually a practical example. So, the... The issue was, is that they didn't know the payroll was right until they actually sent the payroll. And then they use that information to generate the sales invoice. So, what we so, this is an example that I've pulled up on the screen. So, the dependencies for that sales invoicing was time sheets being processed. Them being comfortable that those timesheets were correct and right. Time for the project manager, in this case, to review and understand those and make sure that they were happy with the invoicing. And of course, feeding any new projects through from Salesforce, which in this piece is all being done manually.  

Step 2: Identifying Dependencies 06:08 

And also... Generating any recurring contracts for their subscription invoicing. So, if you think about that, so, suddenly this timeline then has sections of dependencies that then make it up. And then you would start digging into those different areas and then starting to think about your actual processes that sit underneath it. OK, so, there are two what I call categories and improvements that you could look at. Right. So, the first thing is you could ask yourself the question, could I process this any earlier? Could I start this work any earlier? And that's where you start to pull in your dependencies. So, in the case of sales invoicing, I can't do that sales invoicing until I've got timesheets. And I know I won't get those timesheets in till, say, March. you know, five days after the close of the month then. So, then you can start to say, right, how do I get those timesheets in faster? And actually, that then becomes a conversation with the wider business to understand their processes, okay? The second option is to actually improve how fast you process. If we step away from sales invoicing and think about purchasing for a second. So, it might be that your purchase ledger doesn't close until, say, the fifth of the month because you've got to process all of your purchase invoices. Now, one of the most common technologies that are now becoming pretty commonplace, actually, is things like OCR scanning. So, if you implemented OCR scanning, you could process the same volume of transactions within a much shorter time scale. Now, you could also say that we're not only going to wait till the end of the month to process those invoices, but we can also start processing during the week. So, you're actually hitting both categories. But you can see how asking those two or thinking about those two approaches can help you start to decide which way you're going to go with your processes. So, yeah, so, think about the two categories of improvements. Can I process earlier, or can I improve how fast I'm processing? And if you can do both, you're then starting the shift to a continuous close, which we're going to talk about a little bit later.  

Two Types of Improvements 08:15 

So, once you've identified the sort of the tasks that make up your month end using our timeline, you've understood those dependencies, and you've started to think about can I process earlier? And if the answer is no or yes, but it's not going to make that much of a difference, then we start to get into how do we make that process more efficient? How do we improve how fast we're going to process? And then we start process mapping. Now, just for anyone that is interested, I am actually going to do a further session on actually mapping out processes. So, I'm going to talk through the tools that we like to use. I'm going to talk through some of the basic structures that make it up, what types of shapes to use, and all that good stuff. Just so, if you do have anyone that is interested in that, we will be doing one of the upcoming Financial Transformation Live sessions on mapping out processes. So, you know, sign up. You can do that on our website under Resources Financial Transformation Live, or just follow us on LinkedIn, and I'll get the team to put the links in the comments for you so, it's available. Okay, so, going back. So, the next thing you need to do is map out those processes that you have prioritized, right? And this is, again, this is the point at which you start process mapping. A lot of people make the mistake of trying to map everything, right? And though that's, you know, if you've got the, you know, if you've got the money to have consultants come in, you know, for weeks on end and start sitting down with you and doing this, wonderful. But certainly, from some of the conversations I've had with businesses, they know they need to do this, but they also know that, you know, they're already struggling for time. So, for me, it's about prioritization. So, pick the processes that are most impacting that month and timeline and focus on mapping those out.  

Step 3: Process Mapping 10:10 

And there's three elements. Once you've got that process mapped, there's three types of things, three types of analysis you need to do. on this process. The first thing is a requirement analysis. Are there any parts of this process that you could do without? So, I've seen all sorts of years. And I think one of the things you've kind of got to have the conversation with people about before you start doing process reviews is the fact that we're expecting to find things that we know we shouldn't be doing. Okay. And that's why I like process mapping. It addresses it. So, you might find somebody is typing things into a spreadsheet or duplicating data that isn't required, because we can just pull a report from the system. So, I've seen those kind of steps in processes. And I think it's important that people understand and talk these out. Don't hide anything. This is an open forum, and you need to address it. So, the first question is, is there any part of this process or a process in its entirety that we can do without that we don't need for month end? Is any part of it redundant and can it be removed? And does the process itself actually deliver the outcomes that we need? Is the data that we're producing in the right format? Is it delivering what we need from an accounting and control perspective as well? So, you should be asking those questions. Second set of questions we're asking is about understanding the delays in this process. So, is any one part of this process taking too long and becoming a bottleneck? Are there any areas we can automate or improve?  

Step 4: Reviewing & Streamlining Processes 11:50 

And then the third analysis, just in terms of making processes more efficient, you should be asking, so, is it taking too much resource to do any part of this process? Because then you can think about, right, well, how do we use technology? How do we change this process? And there's always, you know, there's lots of different ways, depending on the type of process that you can streamline. So, unfortunately, I only have, obviously, this window to go through this. So, I'm in terms of a month-end process, each of you will have slightly different requirements. Your processes will be slightly different. So, today I'm not going to go into every single one of your processes and figure out how you make it as efficient as possible. But what I want to do is give you the steps and the framework for you to take this away to talk to your team and to start moving yourselves forwards. So, just going back. So, the first thing is timeline mapping. Second thing is understanding dependence. Third thing is mapping out our processes. And then the fourth piece is obviously reviewing those processes, asking the right questions and identify where to streamline. 

Common Bottlenecks from Research 13:03 

So, going back to the research that we've got. So, and again, we'll give you the links in the chat where you can download the full piece of research. So, in this research, it actually identifies some of the most common areas reported as slowing down. So, obviously, data manipulation in spreadsheets, data imports and exports, information handovers. So, passing data from system to system, reconciliations and investigating anomalies. So, these are the four, the five areas that were identified in the report as taking the most time. So, I am going to focus on those. But then based on feedback from this session, and you know, feel free to reach out to me directly, I will start drilling into like the different areas within a month end and focusing on particular tasks or processes that we could look at automating. So, but today's session. So, one of the interesting facts, which I find fascinating really fascinating is those that automate over 90% of their journal entries close 46% faster. And that's a big jump.  

Automating Journal Entries 14:10 

So, the sorts of journal entries that you might want to look at automating are, for example, revenue recognition. So, this is one of the most interesting ones, particularly for SaaS, I think, businesses or subscription-based businesses or those that are on a contract basis. Managing revenue recognition is actually quite time consuming because it's not just the end of the month processing of the journal it's the fact that every time something changed a new invoice is raised you then need to think about how that invoice is recognized how that line is recognized if something changes so, that is one area to really look at if that's one of the blockers for you as a business obviously prepayments is an example so, you can a lot of tools will offer the ability to do as you enter a prepayment to then create the journals Fixed asset depreciation. The amount of conversations I have with people that are still doing the fixed assets in an Excel spreadsheet. So, most of the, or a lot, I will say, a lot of software will have a fixed asset register that you could use to automate that. Into company journals. So, this is where technology is normally needed. So, stepping up into some of the more integrated solutions, you could look into company journals and things like splits and all So, and if you go back to like, why, what are we trying to achieve? What was really interesting, again, this is from the survey, is that those that automate over half of their entries are able to then allocate 22% more of their time for strategy. So, that's, you know, that's the goal to aim for. Can you automate at least half of your entries so, that you have more time strategy? Of course, the more you automate, the better off you are. But it Half the battle with all of these process changes is getting time to do this process, which is why I've kept it super simple, right? This is something you can chip away at. It doesn't have to be, you know, a massive project that absorbs an entire person for, you know, for months on end. You can do this a bit at a time. And with that tool that I showed you with the timeline mapping and, you know, picking off and prioritization, you can start to move your team forward. as you create some wins, you will then have more time to spend on other areas.  

Spreadsheet Dependency & Excel Audits 16:32 

Okay, so, journal entries. So, think about those kind of journals because they are some of the biggest time wasters. So, data manipulation spreadsheets. So, anyone that knows me knows I'm on a bit of a mission. And I hasten to add, I don't personally have a problem with Excel. I think it's more about there are certain types of uses where it is ideally suited. But for me, reoccurring reporting and story Storing data are just not the right place, in my personal opinion for Excel. And actually, it's backed up by evidence. So, there you go. So, those that are most impacted by spreadsheet manipulation close the book in 11 days. Those that are slightly impacted close the books in seven days. So, that's a four-day difference. And that's a really great reason to start thinking about how you're using spreadsheets within your business. So, And I also think that you as an individual can also identify that. So, when you're doing your process mapping, you know, think about like, and identify how much time you're spending creating and maintaining spreadsheets. And again, the last Financial Transformation Live was actually how to do an Excel audit, how to identify the cost and the ROI of removing those spreadsheets. And I would encourage anyone that hasn't seen that last session to download it. It is available on YouTube if you want to do it or just DM me, send me a quick message and I can send you the link.  

Data Transfers & Integration 18:08 

But that is one that you if you haven't already seen that first financial transformation live I would genuinely recommend it so, obviously do your excel audit or your excel review whatever you want to call it anything that is repeatable so, where you do the same thing maybe with a different data each month focus on those try to avoid exporting data because at the point that you export data firstly it's out of date and then secondly you have to then reconcile it against what is then in the system because nobody wants to put management reports in front of a team and them not be correct so, if you can avoid exporting data and that can be either using reporting tools or by using things like ODBC links to pull data out directly from databases so, if you can avoid exporting data and manipulating it and having it basically pulled out of the system for you to use that is one step towards removing the time spent on spreadsheets it might not remove the spreadsheet but it'll minimize the amount of time and the last you know last top tip and I see this all the time is that Very often people don't know what they have in their existing system when it comes to reporting. So, have a conversation. So, build and invest in knowledge of reporting tools for your ad hoc reporting. Or look at, you know, if your existing tools aren't fit for purpose, look at either plugging in a reporting tool or, of course, evaluating your sort of core system. Because if you have lots of spreadsheets, it is likely that you either don't know how to use your core system to its full potential or it's not the right system. system for you. Okay, so, data imports and exports, and this is becoming more and more common. So, as we're shifting away from what I call traditional ERP and into more wider systems, you need to think about how your systems are connected. So, a lot of people are still using spreadsheets or manual entry to cross data over between systems.  

Reconciliations & Anomaly Detection 20:10 

The first thing you need to understand is where are your crossover points and then speak to your system providers to streamline how you do transfer data between systems. Now that could be as simple as when you export it from one system, it's in the right format, the right columns, the right data sets to then import into other systems. So, you're minimising the amount of touches you need to have on that data to actually get it across. So, Personally, I always try and shift to what we call no touch integration. So, direct API wherever possible, or using an integration tool to do like FTB and shifts and do the manipulation and the changing of data sets for you. The other thing you can look at as well is from a month end perspective is actually improving the handover points. So, I was talking about an example of timesheets earlier in the session, but that's also another way to improve it. So, if you have that data earlier, you'll get it into system earlier, which then may bring down some dependencies there through. So, that's something that you can speak to the wider team about how you can get that data earlier. So, again, if we go back to payroll, so, rather than doing timesheets monthly, shift to weekly, get them signed off and checked each month and just put some protocols in place about how long people have post processing and sign off to actually lodge log issues and then get them wider executive and management team involved in supporting that so, this is as much about working with the wider team and looking at the feeds of data into finance as it is just about the finance processes themselves And to put this into context, right, those most impacted by manual data imports and exports close the book in 12 days. Those slightly impacted close it in nine days. So, it can have a big impact, again, on your month end close time. So, reconciliations and anomalies. So, you know, as technology evolves, and certainly in some of the technology we work with, we're lucky enough to have things like AI analysing in the background to identify issues and discrepancies. But very often, actually getting hold of reconciliations and anomalies is a big task for a lot of finance teams. So, some top tips. So, the first tip I'm just going to sort of refresh is a lot of reconciliations happen around reports. So, making sure that nothing has changed since you last pulled data. So, I would go back and think about why are you reconciling? So, am I reconciling because I need to check something or am I reconciling because I've pulled data out and I need to check that it's not changed since I last pulled it out? Okay. So, and if that's the case, then look at the controls in the system. So, are you looking months as an example?  

Consolidation Challenges & Tech Support 23:00 

And secondly, can you avoid actually, um, pulling data out and can you pull it directly from the system so, that's one sort of thing to think about the second piece is about building out reconciliation templates and dashboards so, again when I don't again we're moving away from just exporting data because again you know we want things to be able to process in real time and to continue to go up and we don't want things to sneak in and you know give us a bit of a shocker when we check those numbers so, you Actually, building out dashboards and, you know, and it can be a pivot table in itself. You really can't get it any other way. But, you know, we've done things like with intercompany dashboards where we'll have all of the companies, you know, and all the intercompany accounts and just having a quick look to make sure everything is zero. So, I've actually just screenshotted and put that in there. So, that's one example of a type of dashboard that you can get. And the nice thing about this, first, it's real-time data. It's pulled directly from the system. And secondly, I can, at a glance, quickly identify if I've got an issue. And this one in particular, obviously, allows me to drill through into that piece. So, that's, again, another reason to do your reporting in the system that you are using, because then you should be able to drill into what is the elements that sit up there. And with, you know, reconciliations and anomalies generally, and in fact, anomalies specifically, you need to think about a continuous improvement methodology. If every month you have an issue with intercompany postings, as an example, you need to figure out why that is, right? Because actually, you know, if you are rigorous in your improvement methodology, if you're tracking and monitoring the issues that you're identifying, maybe it's the same person that keeps mis posting. And then you need to work with that individual to then address that.  

Moving Toward a Continuous Close 25:00 

If you can just keep a track of that and basically what was the cause and implement a solution, you know, a true continuous improvement piece, then actually you will get to a point where you're spending a lot less time on anomalies. Now, and again, I'm know how hard it is when you're in the middle of a month end to actually take the time to go oh my god you know um how do I fix this and you don't have to do a month end but the first thing you should do once your month end is done is a look at that list of issues that were in there um and that were created those anomalies that were posted and understand why and how they happen and then within your systems implement validation implement controls do training with your team to stop them happening again and to put this into context 56 percent of people that are going through month end struggle with investigative anomalies and the same amount 56 percent struggle with reconciliation so, if this is you here are a few tricks and tips that you can actually take away and apply in your team um and if anyone you know wants a template or an example of how you can track and monitor in issues just let me know Happy to put a basic example together. But again, that should be something that you review as a team every month. Let's understand where these issues are coming from. And let's continuously address this. Because not only does it obviously start to reduce the amount of time you need to spend on this, but you also know, it stops all those late nights. You know, I'm sure you can find better uses for that time. But it also gives you and your wider executive more faith in the data that you're putting forward. So, we always have to think about how we stop problems and how do we get data into the right format before we start. And this was actually just other key takeaways. When we were looking at the data that came out of this report, so, they talked about, you know, consolidations is massive. So, if you spend a lot of time on consolidation in particular, it's going to take you, your close times are going to be longer.  

Prioritisation Criteria for Change 27:11 

Whilst there are things you could streamline, like for instance, those dashboards, etc, I do think for consolidations in particular, technology is a real piece that you need to evaluate because I haven't found any great non-technological based solutions to really streamline consolidations and into companies. So, that is something where you need to look at the technology that you're using. But what I will say is a lot of people don't know that they have capabilities in the system so, I'm sorry to talk about sage I did say I was going to keep this generic but in sage 50 sage 200 and sage intact there are different obviously different levels but there are consolidation capabilities at all levels right and also even to company capabilities available certain platforms so, do speak to your provider do ask those questions because there are very often pieces of technology that can support you with those areas And I thought this was interesting as well. So, those that invested in technology were to do the same job versus those that are investing in headcount, close the books 25% faster. So, even if you think that actually when you're looking at the ROI and it's pretty similar to hiring somebody as it is to invest in technology, what's quite interesting is you will still see increasing gains by investing in technology. And the other piece you've got to think about is as you grow, you're always going to have to invest in more headcount if you don't get hold of these processes And, you know, what is happening, whereas technology can scale a lot faster than individuals. And if we think about current recruitment environment and how much how hard it is to find great staff and to keep hold of those staff and the onboarding process and the recruitment costs, actually, you can understand why headcount technology could progress. be a better investment. And, you know, because if you take into account sick days, holidays, all those kinds of things, again, this is where technology really starts to shine through. Okay. So, I did say at one point, I talk about stepping towards a continuous close. So, you might be sitting there going, Hannah, I just want to close my month end in five days, right? I'm not even, I'm not anywhere near to a continuous close.  

Final Tips on Managing Change 29:32 

And I totally get that. For those of you that are looking at and going, actually, know I do close within sort of under five days I am at a position where I think we could start to we want to produce maybe weekly reports versus monthly and start that conversation and start getting data out to the business a lot earlier and actually during the month rather than at the end of it then let's talk about the continuous close so, A continuous close does require you to think at the beginning of the process versus the end, right? So, it's not just about doing a month end every week. It's about how you rethink the processes. So, we talked a little earlier about things like revenue recognition. So, this is a great example. So, when I enter an invoice, rather than waiting to the end of the month to post my revenue recognition, actually a continuous close version of revenue recognition would mean that as I enter the invoice, it's got the start and end date and then it's posting daily revenue recognition journals for me just in the background without me having to do anything, without me having to press a button.  

Upcoming Topics & Closing Remarks 30:37 

So, that is the shift. So, the one way you could think about it is how do... How do you think like monthly? How do you then think, right, can I do these processes weekly? Yep. And then daily. And then how do I do at a point of entry? And that is the real big secret to a continuous close is that as you enter data into the system, whether it's a fixed asset invoice, whether it's revenue recognition, whether it's an insurance invoice, you need to ensure that that data is correct or becomes correct at point of entry rather than waiting for month end to actually go through the process. Same with intercompany. As you do an intercompany invoice in one, you buy some stock perhaps of one entity, you need to then have that automatically going through to the other entity and everything in real time. The reality is that technology is key to a continuous close. You have to understand that process. You need to implement validations. It needs to be correct. And that continuous improvement piece needs to come through. So, when you look at the data at any point, you need to know that it's there and could be continuously identifying anomalies. And that's where tools like AI come in. So, in the background, which could be looking for any mis postings, for fraud, for issues. That can all be happening in the background. And you also need to think about things like how do you get data in earlier? How do you make sure that you've got POs feeding in and your committed costs, making sure that you've got, as a transaction, as an invoice received, it's instantly being processed and authorized, and it's just about real-time data and pushing things forwards. So, hopefully that's given you some great examples of things that you can do, regardless of what system you're using to actually step things forwards. The next question you need to think about is prioritization, right? And I like to talk about my prioritization criteria. So, you need to think about, you know, for each option that you're putting forwards to reduce your month end is how much time is it going to save? How much is it going to reduce your month end? And, you know, there is a piece around economy, you know, like as you as you do lots of little things, you can see a really big impact in your month end timeframes. I mean, you think about how quickly it is to implement. So, those that are super simple, maybe you've already got the technology, you know, maybe you've already got bank fees, for instance, with automated bank reconciliations. If you have it, implement it, right? That's super simple. Whereas if it's a big system change, you're going to want to put some planning and some thoughts around it. And that might not be the first thing to tick off on your list. Time to implement, how long does it take? How easy is to implement, how much does it cost? Obviously, a factor. And I will, I actually will do a session on ROI because I think people still thinking like, the hours that they've saved. And there is a thinking about how much time we've spent. But like I said, there's more that goes to having headcount than actually just time saved. Because you've got to think about how much time you spend managing that individual, doing KPIs, doing performance reviews. You've got to think about things like cash flow. So, if you automate, say, your credit control, like the cost of that cash that you're then having to borrow and rolling that in, you've got to think about the value of the time that that resource could be spending on other things. And that's the hardest thing to quantify, to be honest. But if you're really looking for your team to step up into business partnering versus transactional processing, then you need to find a way to actually justify that cost and that shift of that role and what value you think it's going to break. And then risk. I think a lot of the more times you handle a piece of data, whether that's a purchase invoice, whether that's a journal, you are opening yourselves to risk of things going wrong. And I do believe that that is one area that technology does add value. So, you've got to think about how big a risk is it if this goes wrong? What is the impact? And then using that to help your prioritization. So, hopefully I've given you loads of things to think about and please feedback like if you found this useful if there's anything in there that you would like me to expand on or would be a great sort of next session then let me know I'm always open to feedback and I always like I'm just going to put a few tips for managing change so, and I talked about these on the last session but you know lead from the front so, if you're continuous if you're tracking issues and time frames you know Be part of the charge of driving it through. Be clear on why you're doing it as well. Drive this change through individual team KPIs and allow them to take responsibility for mapping and facilitating process improvement. But don't think that you just have to have the teams that are doing that process involved in those kind of things. And again, that's a topic for another day. And focus on the quick wins. You need to kind of create a wave of change. So, small, you know, small little things that just sharpen an hour off the month end. That'll mean you can leave the office at 5 p.m. and 7 on a month end. You know, just keep chipping away and you will be amazed at the difference it will start to make, and people will get the bug for it. And again, I genuinely believe that in finance, we need to not only bring in those analytical, those commercial skills, but these process improvement skills and the ability to implement change is really critical. So, it's a great development opportunity for your team. So, hopefully you have enjoyed today's session. So, I have a few ideas for upcoming topics based on conversations I've had with individuals, but please do feed in. So, some of the topics we're looking at are process mapping. So, what tools that we recommend we use, how you actually process map. We're going to talk about like troubleshooting and process engineering techniques. I gave you a quick overview in today's session, but we will deep dive into some different ways to think about it so, that you can facilitate some workshops with your own team. We're going to talk about redesigning a chat of accounts. Now, I am going to make this both specific to SoftSage software, but also non-specific. So, I'm going to talk about a framework that you can use to redesign. And we talk about putting together a requirements document because I've seen some really good ones and I've seen some shocking ones. So, I do think that is something, if you are looking to evaluate your core systems, then I'm going to do a session on that. And, you know, just from what I've seen and those that were successful, what, you know, what that looked like. And then taking your purchasing digital. So, actually, how do you implement a digital purchasing process? What are the options? What are the areas that you can automate? And I'm not going to talk necessarily about one specific technology, but actually more about the process and also the pieces that go around it. So, people often think about like what technology am I going to use? They don't think about the process of implementing. So, what is the communication strategy that I need to use around this? What do I need to let my suppliers know about? What do I need to let my wider team know about? How do I make sure that this goes in smoothly? So, I'm going to do a session on that as well so, but if you have any other ideas anything that you would like me to cover please send it through happy to add it to the list and it is growing as I get more and more feedback so, we will continue to do these sessions monthly but if I get too many suggestions I might shift to bi-weekly we'll see um And also, out of this webinar, we are going to be doing some follow-ups. So, if you just want to see a bit more detail about the month and timeline example, or even if you want to download the slides from today's session, then please go to our website, www.itassolutions.co.uk and then on the resources page you'll see Financial Transformation Life and we'll have all the links there. We've also got the raw copy of the close the book survey that I've referenced a couple of times in this session so, please do go and download that. There is loads more in it than what I just talked about but it's a really interesting survey and we will be doing a revised survey probably mid this year so, again we might be looking for volunteers on that so, we will please do um let us know if you'd be interested in taking part and you will get an advanced copy if you do um and then thirdly if you are looking to shift to a continuous close then you know we are going to be holding webinars specifically around sage intact so, if you're interested in exploring intact as a platform then that would be an and obviously you've got a challenge with the month end then please do join us for that um And again, if you have found this session useful, please do like it, please do comment, please do share. It really does help us get the word out and help drive those conversations in the wider team about this. And again, if you have any comments, any questions, we can always do a follow-up on this session. Please do DM me. It's Hannah Munro. Pretty easy to find on LinkedIn. Send me a message or reach out to me direct. I'm happy to share my contact information as well. And I think you can see it on some of the slides as well. So, again, thank you so, much for joining us. We hope you found this useful. And yeah, we're looking forward to our next session, which will be in a month's time. Speak soon, guys. Take care.