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ReconArt Variance Analysis

ReconArt is an integrated, fully web-based, best practice solution designed to automate and manage all aspects of business data reconciliation. It is fully configurable, scalable, fast, and a technology leader in the complex high-volume transaction matching.

Variance Analysis, as a quantitative approach of identifying deviations in business performance from defined standards, can be a powerful management tool. This ReconArt functionality allows teams to analyze differences in account activities, uncover the patterns of deviations, facilitate performance measurement and improve control. The monitoring automation of account activities and their fluctuations over any selected time period can become a significant component of continuous accounting methods.

Core capabilities

Evaluate key period-end balances against previous periods

Set acceptable threshold amounts or percentages to flag larger variances

Assign analysts and approvers to collaborate on explaining fluctuations

Ensure variances are fully documented and analyzed

Provide auditors access to detailed info on balance fluctuations

Key benefits

Establishing best practices to manage risk and prompt actions based on differences of concern

Quick insight into differences between planned and actual account balances

Increased visibility and operational efficiency

Full support for all typical file formats to ensure ease of bringing along all required data

Business user friendly

 

Find out more: https://www.reconart.com/solution/enhanced-control-variance-analysis/

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