Welcome to Accounting Maturity Assessment

Take the assessment to see how your Accounting model scores against the four progressive levels of maturity in less than 1 minute. Let's take your Accounting process from good to great!

Accounting Maturity Assessment Model

Accounting Maturity Assessment

1

Do you have a dedicated team for account reconciliation and financial close processes, including analysts, supervisors, and managers?

Have you implemented a structured and well-documented financial close process that includes clear milestones, deadlines, and responsibilities?

Is your financial data centralized and integrated across systems, ensuring accuracy, consistency, and timeliness for reconciliation purposes?

Have you invested in modern financial software or automation tools that streamline the account reconciliation and financial close processes?

Do you have effective collaboration mechanisms in place, such as regular meetings, communication channels, and shared platforms, to facilitate cross-departmental coordination and resolution of errors and omissions?

Please answer the question to move forward

Accounting Maturity Model - Where do you stand?

Ad-hoc

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Reactive

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Preventive

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Proactive

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More information on your maturity level

Ad-hoc

Your accounting process is evaluated as Ad-hoc

What does that mean?

  • Your current record-to-report process lacks structure and formality. There is a need for clear documentation and standardization
  • Roles and responsibilities are not defined and tasks are assigned according to availability rather than skills
  • Data is stored in disparate systems with minimal integration and there are limited data controls in place
  • You heavily rely on basic accounting systems or spreadsheets with minimal automation 
  • You have a reactive approach to addressing errors and omissions and limited cross-departmental coordination and communication

More information on your maturity level

Reactive

Your accounting process is evaluated as Reactive

What does that mean?

  • You have taken steps to formalize and systemize record-to-report processes. Most of the procedures are documented and standardized
  • You have a dedicated team and to some extent roles and responsibilities have been defined
  • You have data integration and centralization to some extent, but financial data quality needs improvement
  • You may have adopted software to manage your accounting process but has limited integration with other systems
  • Communication and collaboration with other departments are present but limited, and further refinement is needed to proactively resolve errors and omissions

More information on your maturity level

Preventive

Your accounting process is evaluated as Preventive

What does that mean?

  • You have a well-defined account reconciliation and financial close process that is streamlined and automated where ever possible
  • You have a dedicated team that is skilled and experienced
  • You have access to centralized data with well-established data audits and validation processes
  • You have adopted software that automates your accounting processes and integrates with various systems and data sources
  • You have a strong cross-departmental collaboration that allows you to proactively identify and resolve errors and omissions

More information on your maturity level

Proactive

Your accounting process is evaluated as Proactive

What does that mean?

  • You have fully streamlined and automated account reconciliation and financial close process
  • You have a dedicated team that is highly skilled and committed to continuous learning
  • You have centralized, integrated, and high-quality data with advanced analytics capabilities
  • You have adopted software that automates your accounting processes and integrates with various systems and data sources
  • You have a strong cross-departmental collaboration that allows you to proactively identify and resolve errors and omissions

Scale up to the next maturity level

Getting to Reactive

  • Establish a structured record-to-report process with documented milestones, and task responsibilities
  • Develop a dedicated team with clear roles and responsibilities to avoid confusion and duplication of efforts
  • Enhance connectivity of data sources to improve data accuracy and access to data
  • Invest in technology to automate critical and time-consuming tasks
  • Introduce proper communication channels across departments

Scale up to the next maturity level

Getting to Preventive

  • Drill down at task level to optimize computations, reviews, follow-ups, reporting, auditing, and downloading & uploading of information into ERP
  • Focus on skill development and enhance expertise within the dedicated team
  • Focus on regular data audits and validation processes to improve data quality
  • Improve integration with various systems and data sources to increase efficiency and accuracy
  • Focus on enabling seamless inter-team collaboration for proactively identifying and resolving errors and omissions

Scale up to the next maturity level

Getting to Proactive

  • Continuously monitor and improve accounting process against industry benchmarks
  • Foster a culture of continuous improvement and knowledge sharing
  • Establish strong data governance practices
  • Adopt AI-based accounting software to automate the entire record-to-report landscape
  • Encourage continuous cross-functional collaboration to drive business insights and strategic decision-making

Scale up to the next maturity level

Achieve end-to-end digital transformation

You are at the top of the accounting maturity funnel. A proactive approach is a necessity for a faster month-end close. While closing the books will still be a priority for businesses, the focus will shift to end-to-end digital transformation, affecting multiple process areas. 

This is where HighRadius comes in with its unique portfolio of autonomous accounting software to provide end-to-end digital transformation. Since accounting solutions need constant reworking in terms of technology, features, and deployment methods with business growth, HighRadius has a tailor-made option for every step.

Put Your Record-to-Report on Auto-pilot in Weeks Not months

Achieve up to 90% Reconciliation Accuracy and Reduce Financial Close Cycles by up to 30%.

AMM

About RadiusOne

The RadiusOne Accounts Receivable Suite includes a set of intelligent solutions designed to support AR processing for midsized companies across industries with a complete order-to-cash automation solution. Automate and fast-track key accounts receivable functions with RadiusOne AR apps, pre-loaded with order-to-cash best practices and ready-to-use with popular ERPs, including NetSuite, Sage Intacct, Microsoft Dynamics, and Infor.

The HighRadius RadiusOne AR Suite includes automation solutions for processes, including eInvoicing, Collections, Cash Reconciliation, and Credit Risk Management.

RadiusOne AR apps are designed to suit the needs of AR teams and aim at automating labor-intensive processes, maximizing working capital, and enabling faster cash conversion. The solution helps small & mid-sized businesses secure cash for today and nurture customer relationships for business growth tomorrow.

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