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Month: May 2016

Bank Reconciliation Automation: “Supposed” Myths Debunked

The bank reconciliation process is essential to having a clear understanding of business performance and to facilitate efficient business planning.  However, many large organisations still conduct bank reconciliation processes manually, which ensues a long, frustrating, labour intensive process. With manual bank reconciliation comes a high propensity for human error too. This leads to inefficiencies in several other cash management processes and creates difficulties in the month end reporting process.
Why You Need to Leverage Cash Application Process Automation

Cash application is a highly manual, repetitive, time-consuming process. One that is rife with inefficiencies, audit and compliance issues and increasing bank costs. Many organisations accept the implications of manual cash application as a “necessary evil”. However, organisations who avoid utilising cash application automation software are hurting their bottom line. In doing so, organisations are avoiding a key opportunity to streamline business operations. There are 3 indisputable reasons why organisations dealing with a high volume of transactions need to leverage cash application process automation.
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