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Effectively Manage Your Financial Close, Automate Reconciliations and Provide Valuable Insight
Regulatory compliance and financial risk are ever-present and ever-changing threats within banking and finance; however, increased security and efficiency can be gained by automating your reconciliations and financial close.
Any institution that plans to scale their business while maintaining strict compliance standards needs to efficiently complete their reconciliations, monitor their task lists, and establish risk management controls throughout the entire process – which is next to impossible with manually maintained spreadsheets.
Accelerate your month-end
Reduce risk through adequate controls
Ensure accuracy of your numbers
Accelerate Reconciliations
Automating the balance sheet reconciliation process takes the headache out of manually correcting and updating hundreds of spreadsheets. Instead of several days or weeks being allocated to a portion of the financial close, the turnaround for reconciliations is accelerated, keeping all financial employees on top of the close.
Streamline the Close Workflow
Automation can streamline your workflow by taking over the routine work and leaving the larger, more complex tasks in the hands of accountants. Instead of spending two to three weeks gathering all spreadsheets and documents, and pushing tasks through the review and approval process, you could shrink the time spent on the financial close cycle by up to 50%.
Reduce Human Error and Mistakes
Instead of waiting for mistakes and their possible consequences to happen, your organization can drastically reduce the number of errors, imbalances, and more by automating the balance sheet reconciliation process. Catching minor mistakes prevents them from compounding into inaccuracies further along.
See What Your Colleagues Are Achieving
Toyota Reduces Manual Work and Gains Financial Close Control
Read Case StudyBy using Adra Balancer, Toyota Financial Services has:
- Reduced manual effort of conducting reconciliations
- Gained full control, visibility and greater accuracy
- Simplified working routines
Manual Financial Close Processes No Longer Sustainable
Read Case StudyAdra has helped Bitstamp to:
- Automate their account reconciliations and close tasks
- Gain greater control across their financial close
- Increase the accuracy of their reported numbers
Improves Matching Process and Decreases Financial Close Time
Read Case StudyTrintech has helped Lookout Credit Union to:
- Reduce the time spent on bank reconciliations
- Gain visibility into their financial close
- Increase the quality and accuracy of their financial reports
Increasing the Efficiency and Accuracy across the Reconciliation Process
Read Case StudyBy using Adra, Danica Pension has:
- Gained real-time insight to monitor progress
- Reduced the time it takes to conduct reconciliations
- Re-focused time and effort on value added tasks
Workday Packaged Solutions
Packaged Solutions automate complex account reconciliations and high-volume, multi-source transaction matching based on deep banking industry knowledge and experience to streamline the financial reconciliation and close process within Trintech while optimizing planning and consolidation in Workday.
Connect Your Data With Our Universal Plug and Play ERP Integrations
What is needed to transform and revolutionize the Office of Finance is an enterprise system of controls that enables an efficient close with accurate and reliable reporting. This system of controls needs to work closely with your financial system of record, for example, your ERP system, to enable activities such as transaction account matching, GL reconciliations, close tasks, journal entries, or even compliance testing, while extending into your Office of Finance’s ecosystem for controls in treasury, tax, reporting and more.
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