Improve the Financial Reporting through
Automated Account Reconciliation
Spend less time on Financial Reporting by Automating
your Account Reconciliation process
One of the main, non-data related delays in the financial close process is account reconciliation. A tedious process, that more than 60% of companies do manually (according to Oracle), resulting in countless hours to get sure accurate results are obtained.
In financial reporting, accurate and timely disclosure can make the difference between a good, quick business decision and a delay that could prevent your organisation from taking advantage of opportunities. What’s more, delays in publishing financial reports or incorrect reporting leads to problems for the entire finance department and organization’s stakeholders.
But there is a smarter way to do account reconciliation, save time and get your team to focus on the tasks where they can really bring value.
Introducing the automated Oracle Account Reconciliation Cloud solution
With Oracle Account Reconciliation Cloud Solution thousands of companies have:
Reduced time taken to reconcile
and reported faster
Reduced errors and improved accuracy of financial reports
Ensured higher security with
greater access control
A survey of 650+ decision makers in the finance close that are now using automated account reconciliation found that:
received more value by being in the cloud during the pandemic
reduced the number of days to close per cycle
saved time and gained agility
That allows you to spend more time on the activities that generate value for the company, like forecasting and planning for future growth.
Do you want to see if the solution is right for you? Add your details below and we’ll email you a business case for you to review with your manager and team:
Why move to Oracle Account Reconciliation Cloud Solution (ARCS) for Reconciliation
- ZImproved finance staff efficiencies through automation of key reconciliation functions
- ZReduced frequency of reconciliation without compromising accuracy or increasing risk
- ZCollaboration assists getting reconciliations done quickly and accurately
- ZClear responsibilities and timescales — Shrink the time it takes for the financial close
- ZTrust and reliability that the numbers are accurate — No need to change existing systems
- ZPeace of mind that important, confidential data is only visible to authorized users
Want to find out more about how ARCS can help you win time? Fill in the form below to receive a product sheet of Oracle ARCS:
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Oracle EPM has a module called ARCS that provides such a platform to do these reconciliations in a manner that is acceptable by both internal and external auditors