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Complex multinational value chains, partly due to industry consolidation or globalization, and more scrutiny from auditors...

Complex multinational value chains, partly due to industry consolidation or globalization, and more scrutiny from auditors and regulators are causing more and more companies to run into serious and costly intercompany accounting problems. How can innovation and technology help with this process?

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Technology and innovation are the main solution for the accounting problems faced by the companies in today's world. The business firm is facing such problems of accounting which is not only costly but also create risk which require more scrutiny from the auditor. If the technology were improved towards the innovation of new ERP accounting software then it would not only save cost but also reduce the time in finding errors and fixing responsibility by minimizing the chances of fraud or manipulation of data. The master data program for management ensure that the new accounts are set up in adjustment with the policies of the company, central accounting provides complete detail of transaction at any place. The addition of computer at each location will help provide accuracy and reduction in the administration cost also.

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