Posts Categorized: Adra

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April 17, 2019
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The Power of the Checklist: Gaining Control of the Financial Close

Ten years ago, the world was captivated by the scenes on TV of a plane in the Hudson River as passengers stood on the wings waiting to be rescued. Despite the loss of both engines shortly after takeoff, all the passengers and crew were saved because of the quick actions of Captain Chesley “Sully” Sullenberger...

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April 11, 2019
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Moving from Manual to Modern: The Benefits of Business Process Automation

When it comes to automation in the workplace, not a week goes by without the release of a new study on how machines will impact jobs. Some suggest that the transfer of repetitive tasks from the hands of workers to machines will elevate the type work people do. On the other hand, there are those...

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April 3, 2019
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How to Reduce the Stress of the Financial Close on Your Team

What do you call a financial controller who works nights and weekends, doesn’t go out for lunch and rarely takes a vacation? Lazy! It’s a classic accounting industry joke. Unfortunately, it still rings true today because many accounting departments in small- to medium-sized enterprises tend to be stuck in the past. For example, during the...

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March 12, 2019
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Trintech Announces the Expansion of Its Adra Suite into North America and New President

Trintech announces the global expansion of its Adra Suite of Solutions, most recently into North America, to help accelerate and simplify the financial close process for mid-sized companies.

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December 4, 2018
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How to Solve Capital Lease Reconciliation Challenges

What is the outstanding amount on each of your current leases? It seems like a straightforward question, but it can be very tough for companies with multiple capital leases to manage these amounts correctly. Invoices are often spread out over years, with the original lease contract filed safely away in a folder somewhere, making reconciliation problematic....

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November 16, 2018
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5 Areas CFOs Need to Have More Control of in the Month End Close Process

Every CFO would like to believe that they consistently maintain tight control over the accounting team and their accounts and reconciliation processes. But in reality, this control can be extremely limited. In our recent market survey, we discovered that most CFOs admittedly continue to struggle to gain control over their monthly close process. In fact,...

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October 15, 2018
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How Audits Impact Your Approach to the Account Reconciliation Process

Due to increasingly strict and complex compliance laws, it is imperative that errors in the account reconciliation process be found well before the auditor arrives. The increased scrutiny on finance departments began with the passage of the Sarbanes-Oxley Act (SOX) in the United States. The law states that public companies are required to report errors...

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September 1, 2018
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Control Risk in Your Balance Sheet Reconciliation Process

Nothing sinks a company’s office of finance’s credibility faster than a poorly-managed balance sheet reconciliation process – but where is the risk and how can you control it? For many businesses, managing financial risk could be the difference between sink or swim. The close process should be a way to clearly gauge your financial position,...

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July 7, 2018
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7 Steps to Auditing Your Corporation’s Bank Reconciliation Statement

Bank reconciliation is an important task for any accounts department. It compares your general ledger against your bank statement to check for any irregularities, such as overcharges, and provides helpful financial oversight from month to month. Your bank reconciliation statement helps bring any missing money to the surface, so it is essential that payment issuance...

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July 6, 2018
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Why Spreadsheets Are the Worst Transaction Matching Tool

Finance teams around the world are typically very familiar with the pain that comes with transaction matching financial data, such as your bank statement and general ledger transactions. Data sources are seldom easy to compare, especially when several different formats, date layouts, and transactions. The transactions rarely line up side-by-side and cancel out neatly. This...

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