Why balance sheet reconciliation is inefficient and error-prone

An explanation of the ways finance automation can reduce manual effort and deliver a faster and more accurate financial close
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ELIMINATE THE MANUAL BALANCE SHEET RECONCILIATION BURDEN

Learn how finance automation can reconcile and certify transactions and balances automatically, identify and report discrepancies for investigation, improve accuracy and eliminate fraud.

3 STEPS TO AUTOMATE RECONCILIATIONS FOR A FASTER CLOSE

  1. Automate reconciliation with rules-based auto-certification at the balance level
  2. Improve visibility and identify bottlenecks with fully auditable automation
  3. Reduce the work of manual preparers by 70%

CLOUD-BASED AUTOMATED RECONCILIATION AND CERTIFICATION

Balance sheet reconciliation is a critical finance process but typically requires hundreds of man hours across the entire record-to-report (R2R) function.   Auto-certify up to 80% of your balance sheet accounts and plug the ‘automation gap’ that leaves your people bogged down in manual work. 

Many of our reconciliation processes were transformed, from tasks that took several hours to automated activities that now take just minutes. This is a significant saving for our company.

Brian Thomsen, Finance Director, Arla Foods

AUTOMATE YOUR RECONCILIATION, DON’T JUST MANAGE IT

SaaS-based finance automation from Redwood orchestrates and performs the work, so you always achieve accurate and timely reconciliation and certification.

automate for smarter reconciliation
eliminate manual preparation
increase visibility of automated progress
reconcile with confidence