Benefits - RECWISE

BENEFITS

Why modernize your balance sheet reconciliation with RecWise?

WORKFLOW

The WORKFLOW in RecWise allows you to follow the process from start to finish and review where the process is at any time.

Once the period is open, the processing can occur, allowing the preparers to complete reconciliations and move them through for review and approval.

Following this, if the business is geographically diverse, business unit managers can ensure that the management of the reconciliation process meets their standards. Internal Compliance can also review the reconciliations, providing feedback in the system to users and whether they are adhering to the Company’s Policy and Procedures.

The ability to review reconciliations prior to the annual audit performed by your external Auditor(s) assists in reducing the questions raised by the Auditor(s) as they can follow the workflow process contained within the RecWise framework.

Simplify

Streamline your reconciliation process and transform your finances into easy-to-understand and reliable information.

Autocomplete

Set automatic rules to assist a reconciliation. No need to prepare, review and approve. Customers can achieve 90% automation for the process, saving resources and time that can be used elsewhere.

Standardized Templates

Gain access to 50+ reports, all in real-time. Performance, KPI’s, Audit, Completion, etc Reduce the risk of errors with consistency in financial reporting.

Centralized Process

Track the process in real-time and improve the period close timeframes. Increase efficiency, reduce redundancy, and minimize errors by consolidating all data and activities in one place.

Review and Certify

Regular reviewing and certification will enhance the accuracy of your financial data.

Transparency

Provide a clear view of your company’s financial health to your stakeholders.

RECONCILING ITEMS

Understand what types of items are impeding the business and ensure actions to remediate instead of writing these items off. 30, 60, 90, 90+ days or customize to suit the business r

Critical Ageing of Items

Ensure that your financial data is appropriately reflecting the aging of assets.

Compliance and Audit

Mitigate the risk of non-compliance and potential legal issues. Organize documentation readily to facilitate smoother and more efficient audits.