Month-end balance sheet account reconciliations: process reinvention

by ReconArt | Case Study

The University of Auckland has a decentralized finance function. Its policy is to have all balance sheet accounts reconciled by cost centre and reviewed within the individual business units on a monthly basis, with a second review performed by the Central Finance team at the end of each quarter. This leads to over 2,500 individual reconciliations that have to be completed each month. How ReconArt has delivered efficiency and visibility into the process: read further.

About ReconArt

Since 2011, ReconArt drives innovation in the recon space and helps a global client base establish robust, flexible and scalable data reconciliation processes. Our software solution leverages best practice and technology in line with the digital transformation trends in finance & accounting.

Our reconciliation tool is a fully configurable SaaS solution which originates from its powerful matching engine. It matches automatically your data by your predefined rules applying your unique business logic. The solution adapts to your growth curve and can accommodate very large and constantly increasing transaction volumes without compromising performance. Data quality and integrity are guaranteed through the normalization and enrichment functionality.

Oriented towards the self-sufficient business user, ReconArt is a best practice product which means implementing client feedback, staying up-to-date with technology and regulatory developments, and constant reinvestment in improvements without additional cost. We offer flexible deployment options and excellent on-going support. With ReconArt you can count on clear and predictable cost of ownership and attractive ROI.

Find out more: https://www.reconart.com/

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