How to Automate Your Monthly Reconciliation
Monthly reconciliation often takes several days. With the right tools, you can cut it down to hours. Here's how.
Monthly reconciliation is one of the most time-consuming processes in the finance department. Yet it's often done manually in Excel.
Why automate?
Automation reduces manual errors, saves time, and frees up resources for more value-adding work. A typical finance department can save 60–80% of the time with the right tools.
Step by step
1. Map the current state. Document all steps in your current process. Identify bottlenecks and error sources.
2. Choose the right tool. Look for solutions that integrate with your existing ERP system and support automatic matching rules.
3. Start small. Automate one account group at a time. Validate the results before scaling up.
With Exopen, you can set up automated reconciliation workflows that connect directly to your financial system.
