FREE Workshop – Automating Reconciliations
Automated reconciliation gives you increased accuracy and is transparent and reproducible. It makes the process easier to verify and audit ensuring business continuity. A structured process reduces risk and introduces valuable early warning indicators which give you the ability to identify, avoid and correct errors before they affect management information and decisions.
The transaction heavy balance accounts are normally the bottleneck in the financial close process of any organization. A reconciliation solution can automatically match more than 100,000 transactions a minute, and remove the bottleneck. The efficiency increase in automating the reconciliation process is often 70-90 % compared to using human resources. With the ever increasing demand for a quicker financial close process, but still with at least the same quality, this specific efficiency increase is becoming more important.
In order to be compliant your reconciliation management process has to be well defined, auditable and verifiable. An automated reconciliation solution covers all of these, thus facilitating financial compliance.
Key benefits of Automated Reconciliation:
- Time efficient and accurate
- Dramatically improves the financial close process
- Enables swifter deliverability of the month end reports
- Reduces exposure to unnecessary risk
- Improves financial governance
- Facilitates financial compliance
Oracle Account Reconciliation Cloud Service is a purpose-built solution in the Cloud for managing the global reconciliation process. It provides real-time visibility into the performance of reconciliations and ensuring that all reconciliations prepared are properly qualified. It also helps companies streamline and optimize performance by automating certain reconciliation tasks and supporting risk-based reconciliation cycles. Offering support for global organizations and shared service centres, Oracle Account Reconciliation Cloud Service is able to match any company’s business and technological needs.
Contact us today to avail of our free Automating Reconciliations workshop. These workshops offer you a half day of one of our senior consultant’s time to come on site and work with you to understand your requirements and deliver on what is the best solution for your organisation.
We have a limited number of places available so register today to secure your place.
Codec is UKOUG Silver Hyperion Partner of the Year, the past 5 years running. We have been delivering EPM solutions across Europe for the past 31 years and specialise in the Oracle EPM Stack. With a team of over 45 EPM consultants we have delivered some of the largest EPM implementations throughout Europe and have an impressive portfolio of global customers who now support through our managed service offering. We also specialise in developing and delivering customised EPM training for our customers. Our training days are developed in-house by our architects and provide comprehensive coverage of the Hyperion architecture, functionality, installation, upgrades, and configuration. Training is tailored to each organisations requirements and designed so that demonstrations and hands-on practices reinforce fundamental concepts in an effective learning environment.