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Rapid Reaction

European companies are closing their books faster than ever, according to a new report.
CFO Europe Staff, CFO Europe Magazine
May 11, 2009

Like ripping off a plaster instead of slowly prolonging the pain, companies are reporting unaudited results — the good, bad and (often) ugly — faster than ever before. According to a new report by BPM International, a consulting network, Europe's largest listed companies shaved time off the year-end reporting cycle this year. "Those who have the fastest external reporting close cycles will typically have some of the most effective and efficient finance processes and systems," the consultants note.