Boost Financial Performance: Automation & Emerging Tech in Account Reconciliation

Accurate financial information is the backbone of good business decisions. Considering economic volatility and changing strategic priorities, executives need timely access to reliable financial data. The financial close process is the basis of financial transparency, ensuring the accuracy and timeliness of individual company’s figures so that they can be handed over to the group for consolidation and reporting, and comply with regulatory reports, either internal or external. Account Reconciliation forms an important part of the closing process.

This paper is a comprehensive guide for finance professionals seeking to understand the end-to-end account reconciliation process, the challenges of traditional methods, the different software solutions available, and how to adopt leading practices and transition towards the future of technologically empowered financial management. It also covers the use cases to showcase the ROIs achieved with the adoption of various automation tools by organisations and their transformation journey.