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To address this issue, organizations prefer using reconciliation software, which can automate the heavy lifting and monotonous tasks while ensuring accuracy and timeliness during the monthly book-closing period. Timely completion of the financial closeprocess helps stakeholders in decision making and reporting.
Fact: Companies that automate part of their financial statement preparation process reduce time-to-Close by 33% or more. We’re talking about faster processes and workflows instead of lengthy and tiresome manual processes. Automation Leads to Better Productivity This should be obvious.
In addition to accelerating the reconciliation process, reconciliation software also enables an audit trail, significantly improving transparency and accountability. In this article, we look at some of the leading reconciliation software or reconciliation tools and also cover how Nanonets can automate reconciliations.
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