The Story of the Never-Ending Close
Picture this: It’s 11 p.m. on Friday! The office lights are dim except for the glow of two screens, one flashing red with an Excel error, the other showing a half-complete disclosure draft. A finance manager rubs her temples, cross-checking numbers for the fifth time. Notifications keep popping up: “Final version ready?” “Can someone validate Note 17?”
We have all been there! The end-of-quarter blur, where time bends and tension hums like static in the air. The financial close is supposed to be a process of precision, but too often, it’s a test of endurance.
This scene perfectly illustrates why the financial close remains one of the most stressful periods for accounting teams. Recognizing this, IRIS CARBON® and EY hosted the webinar “Closing With Confidence: How Disclosure Management Unlocks Reporting Efficiency”.
The session featured three experts: Mauro Bui, Senior Manager at EY’s Financial Accounting Advisory Services; Gregorio Cavinato, Manager at EY’s Financial Accounting Advisory Services; and Aakanksha Swaminathan, Functional Expert at IRIS CARBON®. Together, they shared practical strategies to help teams regain control over reporting cycles and move from reactive firefighting to strategic readiness.
If you missed the live session, here’s what you need to know
The Real Problem: It’s Not the Deadline; It’s the Disarray
“Most finance teams aren’t struggling because they lack tools, they’re struggling because their process isn’t connected.”
Mauro Bui
Senior Manager, Financial Accounting Advisory Services, EY
The line resonates because it hits at the root cause, i.e., technology alone can’t fix chaos. You can add automation, AI, or macros, but if the foundation is shaky, if data still sits in silos, if workflows aren’t clearly defined, you’re just dressing up the problem, not fixing it.
Why the Financial Close Needs Rethinking
The financial close has long been a high-pressure event for finance teams. Between tight deadlines, last-minute adjustments, and the pressure to maintain accuracy and compliance, even the most experienced accountants find themselves navigating a minefield of manual tasks.
At IRIS CARBON®, we understand that this period can often end up being an administrative nightmare that can jeopardize filings and wreak havoc on business operations.
The key question is ‘how can organizations manage their close more efficiently, without burning out their teams or risking errors?’
The Role of Disclosure Management in Modern Reporting
Instead of treating financial close, consolidation, and reporting as separate activities, they integrate them into a single environment where teams can collaborate, validate, and publish with traceability. Disclosure management systems were designed to solve precisely this kind of complexity.
A well-implemented disclosure management framework ensures:
- Single-source consistency: Everyone works from one verified dataset, reducing version errors.
- Integrated review cycles: Comments, approvals, and changes are tracked in real time.
- Process transparency: Teams know exactly where each report stands in the close cycle.
- Regulatory accuracy: Validation rules and templates ensure compliance with reporting standards.
While these improvements reduce time, they also minimize uncertainty, which is often the most taxing part of the close.
“Disclosure management helps streamline the process not just for large organizations but also for smaller teams managing multiple entities.”
Gregorio Cavinato
Manager, Financial Accounting Advisory Services, EY
Change Without Chaos
For many organizations, the word implementation triggers anxiety. As one of the most common barriers to adopting new systems is the fear of disruption. Finance leaders worry that integrating new technology will slow down an already tight process.
Addressing this concern, Gregorio Cavinato explained that implementation timelines for disclosure management tools can be short and non-intrusive when properly planned.
“Our implementation cycle takes about four to six weeks, depending on the complexity and it doesn’t disrupt ongoing business cycles because most of the work is handled by our team.”
Gregorio Cavinato
Manager, Financial Accounting Advisory Services, EY
The takeaway is that transitioning to a disclosure management approach doesn’t need to be a massive overhaul. It can be a gradual improvement, one reporting cycle at a time.
Reframing the Goal: From Speed to Confidence
The phrase “closing with confidence” encapsulates a shift in mindset. The objective isn’t merely to close faster; it’s to close with accuracy, consistency, and assurance that the reported numbers reflect reality.
Confidence comes from three things:
- Visibility – Knowing the status of every report and task.
- Control – Having checks, validations, and clear accountability.
- Continuity – Ensuring the same standards hold every reporting cycle.
When these elements come together, financial close becomes less of a fire drill and more of a well-rehearsed routine.
Process Before Technology: Your Safety Net
Trying to automate the financial close without a clear process is like building a skyscraper without a blueprint; the structure might rise, but it won’t stand the test of time.
Aakanksha Swaminathan from IRIS CARBON® emphasized that the real success of any transformation depends on user adoption, not just technology.
Finance teams often operate on tight schedules, leaving little room for experimentation. By starting small, teams can gradually build familiarity and confidence with new tools. Over time, these incremental wins add up, creating meaningful improvements without disruption. This step-by-step approach reflects broader digital transformation trends: focusing on smaller, validated victories that build momentum, rather than attempting large-scale rollouts that risk overwhelming users.
“Don’t aim for a giant leap, aim for steady, trust-building steps.”
Aakanksha Swaminathan
Functional Expert – IRIS CARBON®
Final Thoughts
Financial close doesn’t have to be a period of stress and fire drills. With the right processes, tools, and mindset, it can become a source of clarity, control, and even strategic insight. Also, disclosure management isn’t about replacing accountants or removing human judgment; it’s about giving finance teams the structure and support they need to work smarter, not harder. When processes are clear, technology is trusted, and incremental improvements are embraced, the close transforms from a high-pressure sprint into a well-orchestrated routine.
The ultimate goal is confidence! Knowing that every number is accurate, every report is traceable, and every team member is aligned. When teams can focus on analysis rather than assembly, the close transforms from a stress point into a source of strategic clarity. And that’s what “closing with confidence” truly means.
