You need to reconcile intercompany balances directly with one another in real time via the Web to improve your financial reporting and closing processes. By automating intercompany reconciliation, you remove it from the critical path of your company's primary financial reporting operation, eliminating the possibility that it can become a bottleneck. Improvements in your intercompany reconciliation processes can drastically reduce the overall amount of time it takes your business to accurately close its books, leading to further benefits (link to fast close solutions page).
Implementing an intercompany reconciliation software solution from Business Objects will help your corporation to:
- Achieve 40-60% improvement in the accuracy of reported intercompany balances
- Reduce intercompany reconciliation process time by 15 days on average
- Integrate seamlessly with your preferred financial consolidation system
- Enable intercompany reconciliation at both balance and invoice levels
