Automated Bank Reconciliation with RPA

 

Most financial organizations, irrespective of size and location, devote most of their time in checking and matching transactions manually, and posting journals to complete the required bank reconciliations. Although the size of the organization doesn’t play a part, several mid-sized organizations find trouble in bank reconciliations. This is mainly due to the multitude of account types, institutions, payment types, time zones, and payment complexities they deal with that make reconciliation a daunting task. The same goes with the invoices as well. The amount of purchase orders received and the amount of entries in each purchase order that ought to be reconciled provokes a great deal of human errors.

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