The Need for Automated Variance Analysis
In order to proactively identify issues with individual transactions or even trends that can impact their business, organizations must continuously perform variance analysis. However, because many organizations conduct the process manually, it is often only completed at the period end when there is less opportunity to minimize the impact of significant variances. The lack of timeliness and irregularity with which this process is often handled does not effectively mitigate the risk of misstatement, fraud or human error.
Fortunately, with Cadency by Trintech®, you can automate the variance analysis process to be both accelerated and scaled based on the business’ needs. Now, proactively and effectively identify areas of financial risk without creating extra work for employees. Instead of allowing risk to linger, automating this process allows you to craft a proactive business strategy even while your reconciliation and close activities continue on smoothly.
To learn more about how Cadency can provide efficiency, scalability and risk-intelligent capabilities, download our information sheet.