Last Mile of Finance
The Last Mile of Finance, a term commonly used to in the CPM space, refers to the financial business processes that occur after close through filing of reports with internal and external stakeholders, the public and regulatory authorities. The “last mile” is borrowed from the communications industry where the last mile of wire used to connect phones in homes and business is the most complex. Similarly, the financial processes covered in the last mile of finance are also mired in complexity, frustration and often, crossed wires.