The COVID-19 pandemic has highlighted the importance of business continuity. Millions of office workers worldwide shifted to working from home, in some cases literally overnight. The initial focus has rightly been on ensuring the safety and wellbeing of employees. As the world settles into a new rhythm, it’s also imperative to continue critical business operations under unprecedented conditions.
We had the opportunity to speak with Mike Neller, senior vice president, global controller, and chief accounting officer at Aon plc. Aon is a global professional services firm, providing risk, retirement, and health solutions, with 50,000 employees across 120 countries. In the midst of worldwide shelter-in-place orders, Mike and his team closed the financial period remotely. Read on to learn how Aon delivered a fully remote financial close for the first time.
What does a typical financial close look like for Aon?
We have a six-day close process. The ledgers close in four days for most of the countries we operate in, and then we spend two days on consolidation and final reviews. When we started our journey with Workday, we were at an eight-day close, so we’ve reduced it by a couple days. We could probably reduce it again by a
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