Managing financial transactions and reconciling accounts can be time-consuming and overwhelming for business owners. 51% of companies use automated processes to reconcile their accounts. Switching to automation can be a game-changer for businesses looking to save time and resources.
Businesses can reduce manual reconciliation by up to 70%. This translates into fewer errors and increased accuracy. Automating your financial reconciliation can also help companies to mitigate the risk of fraud, which can be a significant problem. According to a report by the Association of Certified Fraud Examiners, companies lose an average of 5% of their revenue yearly to fraud.
Businesses can free up valuable time and resources, reduce errors, and mitigate the risk of fraud. It’s time to streamline financial reconciliation processes and benefit from automation.
By utilizing Evention’s Credit Card Recon, you can streamline your audit compliance efforts and minimize the potential for fraud. The tool considers all prevailing currency rates, promptly identifying and reporting anomalies. As a result, the reconciliation process is more efficient and precise, enabling you to close your books faster.
Credit Card Recon also offers transparency that is difficult to achieve with manual processes. The module reconciles against all current currency rates, and any exceptions are highlighted and reported, making it easy to identify any discrepancies. This level of transparency can improve customer trust and confidence, ultimately leading to increased revenue.
Total Recon’s Credit Card Recon can help you save money in the long run. By reducing the time and resources needed to reconcile credit card transactions, you can allocate those resources to other areas of your business. This can lead to increased productivity, ultimately leading to increased revenue.
In conclusion, Credit Card Recon is the most powerful tool that can improve accuracy, save time, enhance audit compliance, and reduce the risk of fraud. Automating the credit card reconciliation process can improve your financial processes, increase transparency, and save money. Start using Total Recon’s Credit Card Recon today and see the difference it can make for your business.
Contact Evention today for a Total Recon demo to see how our solution can help you.