A Guide to Reconciliation Management
Now that we have standardized and automated our reconciliation process with Trintech, we are very focused on continuing to optimize to drive further efficiencies.”
Back to Basics: Understanding the Account Reconciliation Process
The account reconciliation process is a critical first step in the financial close and sets the foundation for period end success. However, it can be an extremely stressful process that consumes more resources than planned.
What is the ultimate goal?
To achieve an efficient and effective account reconciliation process, organizations need to establish strong controls, standardize processes, and ensure alignment between their internal and external systems of record.
Because the account reconciliation process forms the foundation of the rest of their work, many finance functions find this to be a good starting point when improving their Record to Report (R2R) process.
This approach supports growth initiatives and external reporting requirements while laying a strong foundation for the entire close process.
In this Tip Sheet we discuss how to:
- Move from being transactional to adding value
- Turn reconciliation challenges into major opportunities
- Harness the power of data
Fill in the form to discover the best practices that can help your organization improve the account reconciliation process.
Discover our Comprehensive Solutions
Bring accuracy, control and visibility to your account reconciliation and close processes. Our automated solutions work to solve any problem, no matter how complex.