Account reconciliation process typically requires much repetitive and manual work. It creates bottlenecks for many stakeholders. In addition to the reconcilers, these include financial controllers, shared service centre managers and business partners. But also internal and external auditors.
As a result, many organisations have been taking an interest in the potential of modern automation technology to drive efficiencies. However, many have not gotten all that far on their automation journey yet. Huge potential for efficiency gains remains.
Enterprises require greater standardisation of account reconciliation policies across group companies to make the most of automation. However, it’s hard to standardise more when you’re stuck working in different ERP systems and spreadsheet templates. Organisations are in need of automation-driven software tools to enable standardisation.
Enforcing and verifying compliance with standardised policies also remains a challenge. The software solution should stand the test of time by also being able to integrate with your financial close processes. After all, if you ask finance professionals when they most wish for an efficiency boost, many would probably say during financial close.
Take away the guesswork with this roadmap webinar series. Learn how far your organisation is within the account reconciliation journey. Find out what is the potential for improvement. Regardless whether you take a step-by-step approach or prefer to implement all best practices at once, the road to excellence in account reconciliation is the same. Start with centralised standardisation. Proceed with manual task automation. Implement centrally governed compliance and visibility. Finally integrate the account reconciliation into your financial close process.
Account Reconciliation Process Standardisation & Automation
Account Reconciliation Process Compliance & Visibility
Continuous Account Reconciliation and Financial Close Process
Christopher von Walzel, International Sales Executive at Aico Group.
Christopher is a sales executive with over 7 years of experience in supporting large companies with the on-boarding process. He can help you arrange demos, provide information about Aico to support your business case and guide you from the first meeting to the final decision.
Clive Jefferies, Product Manager at Aico Group.
With over 30 years of experience in finance and IT, Clive has in-depth knowledge of record-to-report accounting processes and intelligent automation solutions. Having worked for the likes of IBM and Microsoft as well as consulting large global companies, Clive holds the expertise on end-to-end financial close processes.