Gartner Research

Leveraging Technology to Improve Reconciliation Management

Published: 30 April 2008

ID: G00156836

Analyst(s): John Van Decker

Summary

Reconciliations are a major reason it takes a great deal of time to close the financial books each month. Investing in reconciliation management applications can be a cornerstone of -- and, potentially, an initial approach to -- a firm's financial governance strategy.

Table Of Contents
  • Overview
  • The Financial Reconciliation Process
  • Challenges in Reconciliation Management
    • Poor Account Variance Visibility
    • Minimal Systematic Scoping Capability
    • Manual Processes and Inhibited Global Coordination
    • Poor Change Management
  • Software to Support Reconciliation Management
  • Leading Reconciliation Management Functionalities
  • The Bottom Line

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