Adra Balancer provides a clear process, overview and well-defined control of your balance sheet reconciliations. Now, you’ll be able to completely eliminate error-prone spreadsheets and increase the efficiency, consistency, compliance, and visibility of this entire process.
The solution ensures that you can produce accurate financial data quickly and confidently during the close process. In the end, you’ll be able to spend more time on the reporting and analysis of your financial data to inform your business’ decisions and future success.
Balancer has a great number of benefits for all personnel involved in the month end close:
Adra Balancer gives you instant visibility into the planning, progress and status of the reconciliation process. This includes visibility of the different roles of preparer, approver and reviewer, in addition to reconciliation policies and procedures.
Adra Balancer simplifies regulatory compliance by safeguarding the quality of your final balances as they are carried down. The software provides instant tracking, as well as an audit trail that can be made digitally available to any internal or external auditor.
Key accounts and high-risk accounts are easily prioritized, while descriptive reconciliation procedures are available on each one. Easy to understand templates ensure consistent specification and documentation.
In Adra Balancer, no one is able to approve her or his own preparations. An approver can make a personal digital certification on every prepared account, and an audit trail is created from the very beginning with traceability on every item.
In Adra Balancer, you can define criteria and rules that allow for automatic system preparation, quickly saving users from having to certify these accounts manually. For each account, you can determine whether to allow system preparation, system approval or both.
The period end close process is easily audited with Adra Balancer. Auditors can add comment on accounts where improvements should be considered. Auditors can be given secure digital access and also download balances and supporting files to fulfill their obligations.
“Coor's financial department is experiencing a huge difference and great improvement. In addition to saving huge amounts of time, today, 1-2 people do what 12 people did before. They perform the work with significantly better quality and control. The auditors are lyrical about the quality of the financial statements. We are also experiencing several other positive effects we had not counted on, such as having all the information and all documents collected in one place, with full access and visibility real time. It is very easy to control different companies and accounts. In addition, the change has been positive for the staff. ”
Protector Insurance selected Trintech’s Adra Suite of solutions to improve and eliminate manual processes and increase automation to focus more time on value-added activities.
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