Automated Bank Reconciliation Solution
Reduce costs, increase throughput and reduce errors with our automation solution for bank reconciliations
Our Partners
Benefits of automating Bank Reconciliations
Reduce time spend on manual process
Reconciling the data between your finance system and your bank statements is a long and laborious process. Using software bots can reduce the time this takes by up to 85%
Reduce employee errors
Manually checking data can lead to costly errors for your business. Our software bots have an accuracy rate of 95% and your team can manually approve or amend the data they extract in the NexBotix platform
Reduce operating costs
Paying for employees to manually reconcile your accounts is an expensive overhead. Software bots can cut out this cost and you can assign your employees to a different type of task that a bot can’t perform.
How does our Bank Reconciliation solution work?
1. Data Retrieval
Our bots retrieve your bank statements from an email inbox or your finance system
3. Validation
Our Bots will cross reference this extracted data from the bank statement with your finance system data to highlight discrepancies
2. Extraction
Our bots then extract all of the key data that you need using Optical Character Recognition or RPA technology
4. Reconciliation Report
Our Bots then issue a report in the NexBotix platform or in a spreadsheet to highlight outstanding payments, overdue invoices or any other banking discrepancy for the team to action.
How to get started
Our team are on hand every step of the way to guide you through the process.
Discovery Workshop
We will host a session with your team to gain a deep understanding of your systems and current process.
Business Case & Commercials
We'll build a clear ROI focussed business case outlining the time and money you will save with our Bank Reconciliation solution
Optional Pilot Period
We'll happily build a pilot for you and your team to see how well the solution processes a specified number of documents.
Managed Service
Our team will design, build and manage your automation and you will be assigned a dedicated Customer Success Manager who will be your main point of contact
Our Blog
New to automation? Check out our blog for helpful resources and guides to getting started
5 Day-to-Day Finance Tasks That Should Be Automated
Finance and accounting teams are at the heart of all organisations. Managing revenue, third-party procurement, billing, supplier invoices, all while overseeing financial strategy and planning, mitigating risks and costs, and capitalising on new opportunities. Finance teams need to maintain high-performance levels, with minimal errors whilst pushing a business forward, which is why automation is becoming a popular choice among finance leaders looking to stay ahead of their competition.
Top Five Benefits of Implementing Automation within a Finance Function
Automation is an essential step in the evolution of the modern finance function. This has become even clearer during the COVID-19 crisis, which exposed shortcomings in finance processes and systems. As businesses seek to rebound from the global pandemic, automation will change the way organisations operate forever.
How can automation help CFOs achieve their strategic goals?
Often regarded as a catalyst for change within an organisation, CFOs spearhead conversations about new innovations to drive overall business improvements both within and outside the finance function. With the ever-expanding list of responsibilities assigned to the CFO and a range of business-critical goals to achieve, what role can automation play in helping finance leaders deliver more value to an organisation?
