Big Data and its accuracy in reporting has been called the “next big thing,” and it can certainly make a strong case with the explosion of easily accessible, high-quality data available today. Big volume companies are facing increased pressure to provide higher quality information faster and more efficiently because of many factor i.e. external shareholder and regulators want more transparent information in less time, Internal executives and business leaders require fast, accurate information to support decision making, Companies must report faster with fewer resources while running out of “quick wins”,

Following steps could taken to validate the accuracy of a monthly revenue report

Very first thing is to determine strategy of desired result, develop a plan, and monitor progress. Align reporting objectives with the overall strategy of the organization.

second thing is to Look for leaders at top-level leaders—inside and outside the finance department and ensuring the organization focuses on achieving closing and reporting objectives.

One must consider the opportunity throughout close and reporting cycle

Do not have fear of implement changes. There may be new policies, procedures, automated controls, and systemic enhancements can be extremely difficult from both the technological and human perspectives. Once changes gain momentum, do not stop before achieving goals and objective

Plan the work and work the plan is next big thing. Develop an implementation plan with measurable milestones using a proven process improvement methodology to guide the effort.

Structure—Align the finance function to enable the strategy of the organization.

Align your structure to meet specific stakeholder needs. Successful organizations structure themselves and their services to meet specific stakeholder needs.

To have effectiveness in reporting you must do following things

Assign clear roles and responsibilities

Establish a calendar with defined milestones to support accountability

Optimize workload distribution and resource alignment

Communicate effectively throughout the organization. I

Measure and reward performance

If you follow the above process you have accuracy of a monthly revenue report