Seamlessly run reconciliations between subsidiaries.
As the number of mergers and acquisitions is increasing, so too is the need for intercompany reconciliations. Removing transactions between entities, this process is vital for reducing inaccuracies in your financial statements.
But with different ERPs or ledger systems, it’s difficult to share balances. And with overseas subsidiaries working to different year-ends, the challenges increase. Teams in different territories reconciling sales across financial periods, with a range of currencies and cash in transit.
Getting data in the same format is enough of a challenge, not to mention the time required to reconcile transactions.