article thumbnail

Rethinking Reconciliation Amid Deeper Corporate Finance Disruption

PYMNTS

The reconciliation process is traditionally viewed in the context of financial transactions: Does the value of a company payment match with what the company was billed, and what the company had purchased? Yet the reality is that the reconciliation process is rarely ever straightforward. Beyond Data Matching. Payment Rail Confusion.

article thumbnail

Finance Teams: Stop Wasting Time on Manual Account Reconciliation & Automate

The Finance Weekly

Account reconciliation is the matching and validating of balances in the general ledger (GL) to internal and external sources or other independent calculations to accurately close month-ends and year-ends. Defining Account Reconciliation The basic steps involved in reconciliation transactions include the following: 1.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Finance transformation: BlackLine adds capabilities for faster financial close

Future CFO

BlackLine recently announced new features to make finance transformation more efficiently. Since BlackLine, we have seen 100% on-time completion rates for all month-end reconciliations. The post Finance transformation: BlackLine adds capabilities for faster financial close appeared first on FutureCFO.

Finance 94
article thumbnail

FloQast Augments Reconciliation Automation With AI

PYMNTS

Accountant close management software company FloQast has upgraded FloQast AutoRec, the company’s AI-powered solution to account reconciliation, according to a release. . For the unmatched transactions that are left, FloQast helps those get resolved through a standardized Excel account reconciliation, and it has a full audit trail.

article thumbnail

Achieving Creative Collaboration Via Finance | CFO Jim Caci of AvePoint 

CFO Thought Leader

CFO GUEST: Jim Caci of Ave Point 923: From Inside a Remote Address | Jim Caci, CFO, AvePoint MADE POSSIBLE BY LEDGE | Ledge is a command center for payments built for finance teams operating at scale. Finance teams regain control of payments and are freed to focus on strategic business impact, not manual payments work.

CFO 52
article thumbnail

Will Finance Become 100% Digitalized?

Jedox Finance

We have been talking about a digital transformation in Finance for ages. On the other hand, so many companies still struggle with their transformation and are challenged by even the simplest of processes such as intercompany or bank reconciliation. More importantly, how will the finance function look afterwards? Absolutely!

Finance 141
article thumbnail

Preparing Your Finance Organization for the New Era of AI

CFO Leadership

Future-forward finance and accounting organizations were quick to embrace robotic process automation (RPA) years ago to manage mundane, repetitive back-office tasks like data entry and routine financial reporting. AI is a tool and not a replacement for finance professionals.