Queensland Airports Limited’s Challenges
Queensland Airports Limited struggled with a mostly manual month-end reconciliation process. To create more efficiency, they knew they needed to reduce the amount of manual tasks by eliminating their use of spreadsheets and automating their reconciliation process.
Additionally, Queensland Airports Limited needed a cloud-based solution to provide a more consolidated, centralized view of their reconciliations, as well as increase the speed and accuracy of their overall process and exception identification.
Selecting a Solution
After evaluating several solutions in the market, Queensland Airports Limited decided that Adra by Trintech was their best choice to simplify and streamline their processes. They chose two solutions: Adra Balancer, for their reconciliations, and Adra Task Manager, to easily and effectively manage the overall process and its performers. The implementation moved quickly, and the training was simple for the users to understand. The software was available and ready for users to utilize within hours.
The Return on Investment (ROI)
Queensland Airports Limited has seen a high ROI yield from their Adra solutions. They have greater visibility and governance over the entire process and its members. The reconciliation software auto-reconciles accounts, flagging exceptions for the team to review, and assigns risk factors to each account. Not only does this streamline their process and cut a significant amount of time from their month-end close, but it decreases their compliance risk as well. Each team member has a clear understanding of which tasks are assigned to them and are able to perform each task in the proper sequence.
Additionally, the organization has been able to leverage the solutions for external auditing. Their auditors have read-only access to the platform and have stated its easily understood and easily used for their audit purposes. The software provides an automated audit trail for tracking purposes, as well as aging reports on unreconciled items and comments attached to various tasks.
The Adra by Trintech products have allowed Queensland Airports Limited to transition into working remotely more easily as well.
“With the majority of our workforce working remotely, Adra has been essential to our organization. I now have the ability to review and approve all tasks from my home.” – Kishan Ramjeet, Accounting and Reporting Manager
Download the case study to learn more about how Adra has enhanced Queensland Airports Limited’s financial processes.
Written by: Ashton Mathai