The fee associated with the stop-by-and-stay- awhile audit may be in line with what the organization has paid in the past but is largely influenced by the quality of financial reporting, competency of internal staff and the timeliness of account reconciliations
Before you think "Oh, not another technology story!" consider this: Continuous Accounting isn't just another way to do account reconciliations
or an impractical pipe dream attainable only by the largest companies or the smallest, most agile teams.
The program offers competitive pricing, order verification on all purchases, predictability of maximum price levels on all qualified parts and rapid account reconciliation
The company selected the software last year and has since implemented the mortgage accounting software, which has allowed it to conduct balance-sheet account reconciliation
and eliminate time-consuming manual processes.
is a crucial business activity, and one that is becoming increasingly complex.
CIMB also received the JomPAY Innovation Award for creatively bundling JomPAY with its suite of cash management solutions like automated collections, payments and account reconciliation
. The awards for Best Customer Experience for JomPAY (Corporate), Best Customer Experience (DirectDebit) and Top FPX Acquirer (Bank) were further testimony to CIMB's significant contribution to the e-payment system value chain via products like BizChannel@CIMB and robust distribution of Financial Process Exchange (or FPX) solutions.
is an important task for many CPAs and CGMA designation holders working in business and industry.
"Through Maybanks payment solution, MNTC will not only get on-time reports for faster and easier account reconciliation
, but also reduce cost on its daily operations."
The company's introduction of its pioneering account reconciliation
software in 2005 signified the development of an entirely new category of business technology, one erasing the drudgery, inefficiency and risk inherent in the previously manual, spreadsheet-based process, while offering unparalleled visibility into the underlying financial data.
After acquiring a competitor, the company found itself with multiple finance departments, each with its own methods for account reconciliation
, including reconciling sub-ledgers with general ledgers.
The study noted, "These leading-edge CFOs are being called upon to carefully direct technology investments towards systems that enhance budgeting and forecasting, as well as back-office processes such as account reconciliation
and account analysis.
Interconnect also manages complex multifranchise and multilingual operations, automated account reconciliation
, and call detail record matching in addition to compliance, invoicing, taxation, and enterprise resource planning integration.
Some new data elements have been introduced for SEPA with the aim of facilitating account reconciliation
A seemingly mundane--and so often overlooked--process that has been proved time and again to deliver an impressive return when optimised through automation is balance sheet account reconciliation
is a critical step in the bookkeeping process.