Why does account reconciliation still dominate month-end close timelines at large firms?
At scale, reconciliation seems to consume a disproportionate amount of time during close. Even with ERPs and controls in place, finance teams still spend days tracking small breaks and timing mismatches.
In some teams I’ve spoken with, tools like Collatio Accounts Reconciliation software are being used to take repetitive matching off analysts’ plates, but reconciliation still ends up being a bottleneck when volumes spike.
For those in corp fin or controllership roles, where does reconciliation realistically sit in your close timeline? Does tooling change the dynamic much, or is process the real constraint?
Necessitatibus in iure veritatis ipsum expedita. Animi veniam consequatur nulla adipisci rerum. Rem cupiditate voluptatem reiciendis eaque sapiente itaque blanditiis. Porro magni provident molestiae harum placeat dignissimos.
Aut molestiae cupiditate et perferendis ducimus consequatur. Enim natus quis commodi eos. Enim sunt eos iste consectetur neque reprehenderit est. Et fugit magni est. Eveniet nulla laudantium sed qui eligendi impedit consectetur.
Dolores sint dicta magni. Cupiditate et fugit laudantium expedita quam. Aut corporis vitae animi quasi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...