Transactional matching should be pretty straightforward however, due to the lack of consistency across data, many still find themselves using spreadsheets and various databases to complete the process manually outside of ERP systems.
Although matching tends to be a high priority, the reconciliation process should never really just be about the matching, even though the manual processes sometimes make it feel like that. The key point here is not that matching isn’t important, it’s that there are solutions out there that can take this challenge away simply and effectively, allowing you to focus your time on greater issues critical to your organization.
Best-in-class companies who implement automation are managing their operational reconciliations with improved quality, at as much as a 95% reduction in errors, improved speed, with up to 99% of routes automatically reconciled before the day begins, and at reduced costs.
Download this eBook to explore 3 key considerations to keep in mind when exploring financial close software for operational reconciliations that can enable you to achieve similar results:
- Focusing on Exceptions
- More than Bank Reconciliations
- Part of the Wider Close