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Automated reconciliation: Financial reconciliation from days to hours
Automated reconciliation helps businesses streamline their operations. Discover what this means for you and your business.
Reconciliation is pivotal in ensuring the precision of a company's financial records. When done effectively, automated reconciliation becomes a cornerstone for saving time and resources, empowering businesses to make well-informed decisions.
Unfortunately, financial reconciliation takes up a lot of time for most businesses. 36% of companies lose at least one full work day per week on payment operations, and some have over four full-time equivalent (FTE) employees working with reconciliation.
Reconciliation is a cumbersome process for all types of businesses, especially for retailers with multiple locations, online and in-store payment channels, international presence, and legal entities.
To overcome these challenges, businesses can embrace automated solutions, contributing to a more streamlined and error-free financial reconciliation process.
In this blog post, you'll discover:
What is automated reconciliation?
Manual vs. automated reconciliation
Automated reconciliation with Adyen