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Unlock value through your Chart of Accounts

Explore eight steps to create a COA that delivers real value to your business.

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Unlock value through your Chart of Accounts

Many organisations start their COA redesign journey with a very narrow focus and a lack of awareness of the broader downstream implications. For those considering, or already on the COA redesign journey, this paper outlines eight key steps organisations can take to create a COA that delivers real value to the business.

The eight key steps are:

  • Understand how the COA delivers performance insights
  • Get more out of your COA
  • Listen to the business – not every answer can be found in the COA
  • Leverage technology – but put the business first
  • Keep regulators happy…and your finance team engaged
  • Incorporate the needs of your global businesses
  • Consider the governance model
  • Involve the business in designing the COA.

In this paper, we highlight the experiences of three large, multinational clients that undertook a major general ledger replacement, including two that redesigned their global COA. Structuring the COA to measure the performance objectives of the organisation is a priority that should be high on the CFO’s agenda. 

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