Five Reasons You Should Not Purchase An Account Reconciliation Automation
Reason One You Should Not Purchase An Account Reconciliation Automation Solution:
You know that by having to work long days during the close means you will not have to take on the domestic chores that fill the evenings and the weekend. No sitting on the side of the soccer field for you. No vacuuming the entire house. No trips to the over-crowded market this weekend.
Reason Two You Should Not Purchase An Account Reconciliation Automation Solution:
You know that the longer the auditor is present, the more free meals you can count on. After all, finding the supporting documents behind a reconciliation or two may take a lot of time depending on how your manual spreadsheet, scan, print, and binder system works. Finally, you can check out that new Mexican restaurant.
Reason Three You Should Not Purchase An Account Reconciliation Automation Solution:
Your single. Your auditor is single. You can feel the chemistry you collectively create when pouring through reconciliations and the numbers. If the reconciliations are really a mess, this could turn into a series of very late and very hot nights.
Reason Four You Should Not Purchase An Account Reconciliation Automation Solution:
You own stock in the company that manufactures binders. Yes, every little dependence on the binder company can be beneficial. The antiquated systems you’re using along with the manual processes you use for your account reconciliations and month-end close are keeping your company down compared to the competition. In this case, relying on the stock market rather than bonuses tied to profits seems a safer bet.
Reason Five You Should Not Purchase An Account Reconciliation Automation Solution:
You are an adrenaline junkie and like the risk that manual processes pose. From your Excel spreadsheets, to your supporting documentation, to not reconciling all accounts, everything about loose controls means you’re that kind of risk taker. Sure those Excel formulas are complicated and require great care when being copied over to the ensuing month; your team has been able to pull it off thus far, so it seems. You can’t ride the amusement park roller coaster as often as you’d like so the heavily manual, two-day close fills in with its looping highs and lows and unanticipated surprises.
WARNING: Forward Looking Statement:
At SkyStem we want you to have good relationships with your family, your colleagues and your future. We believe that by automating your account reconciliations and your financial close processes, you will improve your internal controls and thus, you will have more time to focus on strategies and tactics that will help your company, your team and you, for the long term. See how account reconciliation automation works via this brief video.