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Financial close: task management

Core Capabilities of ReconArt Software

  • Automate and accelerate your financial close process

  • Create checklist for month-end close or any other period-end activities

  • Manage month-end close process in real time

  • Monitor and optimize close process bottlenecks

  • Collect all close notes in one place for audit readiness

Financial close: task management

Key Benefits of ReconArt Software

  • Faster financial close enabling regulatory compliance and best practices

  • Process efficiency and automation with built-in completion workflow capability

  • Increased visibility and close progress oversight

  • Enhanced control and detailed audit trail within a single close management platform

  • 100% web-based solution, quick to implement and adopt by F&A teams

Financial close: task management

How ReconArt streamlines the reconciliation process?

Тhe financial close is a recurring and consistent process that is of central importance to Finance and Accounting Teams. This makes it perfectly suited to automation for enhanced precision and time savings. ReconArt’s financial close management software incorporates all essential components: 

  • creation of customizable month-end close checklist,
  • monitoring of tasks progress and completion in line with assigned roles and requirements,
  • easy upload and matching of trial balance data from any system,
  • account balance justifications and approval workflows,
  • variance analysis of balance fluctuation across accounting periods, 
  • journal entries creation and approval

Close tasks are organized hierarchically in calendars and pushed through machine-driven workflow where roles are strictly defined and users are prompted to take action. This ensures timely task follow-up and status updates are reported in near-real time. Financial close checklists are visible in one system together with all their reconciliation data and accompanying documentation. The connection between the verified account balance and the underlying matched transactions is clearly visible. The system maintains a granular audit trail and centralized recon data repository – ranging from a detailed log of operations to automatic controls and links to notes and attachments.

The platform’s flexible configurability allows for a thorough mapping of the customer’s financial close process into a secure SaaS environment in line with best practices, business specifics and internal policies. Users construct, administrate, and change their processes without the need for heavy customization and professional services. ReconArt supports continuity, process audit and improvement initiatives. Our financial close software is highly adaptive to changing business needs such as introduction of new business lines or organizational changes, remote teams, and home office.

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ReconArt Customer Success Stories

ReconArt is proud to receive the trust of our customers and we are dedicated to our mutual success. Here are some of the customers who leverage our reconciliation software to automate their reconciliation and close processes.

Progressive Credit Kenya: automation of daily bank reconciliations in the microfinance business
Progressive Credit Kenya: automation of daily bank reconciliations in the microfinance business

Progressive Credit is a microfinance organization founded in 2011. The company operates in 27 branches across Kenya with the mission to design innovative credit product tailored for consumers & SME.

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1-800-PACK-RAT: bank reconciliation with ReconArt
1-800-PACK-RAT: bank reconciliation with ReconArt

1-800-PACK-RAT is an industry leader in portable storage and moving, who provides US customers and businesses with solutions for on-site storage, warehouse storage, local or long-distance moving.

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RedCloud, HQ in the UK, has developed a digital ecosystem for order & inventory management, cashless payments, customer engagement. The platform is leveraged by small & local FMCG businesses globally.

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