Dont Drown in Transaction Data When Closing - Light a Match and See Clearly
Summary
High volumes of data continue to rise and is required for Finance & Accounting (F&A) to provide analytics and uncover hidden patterns, correlations and other insights that drive the business forward. Even worse, many organizations choose to skip this reconciliation at the financial transaction level and leave themselves open to error, fraud and misstatements. As you look at matching solutions as part of your R2R process, it is critical to examine their functionality in the areas of: With ease, high volume transactions and balances can be imported via an ERP connector or any text file with dynamic mapping and transformation capabilities. The invoice will route through an approval process and automatically flow to the general ledger based upon rules and parameters that can be secured by the user role. If the entries require approval, this can be done by a set of rules such as amounts, dates and other data fields prior to exporting to the general ledger.