The only way businesses can remain in business is to ensure the correct valuation of assets, liabilities, and cash flow. They also need the process to throw up discrepancies that could point to early detection of fraud, which can ultimately lead to the longevity or demise of the business.
Therefore, what are the fundamentals that must be available for a business to carry out regular reconciliation processes that ensure the process does not end up killing the business?
I state an hypothetical case study of Combined Forces Plc., which elucidates the challenges many enterprises face in order to have clean and healthy Account books.
Spreadsheets, on their own, are no longer the desired solution. The solution has to be a simple, smart, and comprehensive amalgamation that ensures business intelligence and interpretation at all times.
Also a successful process ensures the establishment is not bound by the whims and caprices of individual reconciliation officers…
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