Enable Faster Financial Close with Automated Journal Entry Processing
According to SAPinsider, 58% of organizations see financial close as the biggest pain point for financial processing. The current level of automation for this critical process is only 30%, which is far below the automation rates seen in other finance areas such as Accounts Receivable or Accounts Payable.
Among the first tasks in the financial close process is entering manual journal entries and, depending on your business, your accounting team may have to enter hundreds of them each period. Therefore, by simply improving this one task with intelligent automation you can dramatically improve the other close activities that follow.
Serrala helps companies running SAP systems accelerate the financial close process with a fully digitized solution that manages journal entry processing from initial creation through reconciliation and close.
In this short introduction to the FS² JournalEntry solution, discover how this SAP-certified and fully SAP-embedded solution can help your finance and accounting teams eliminate cumbersome manual tasks and gain complete visibility and control over your financial close. You can:
- Create journal entries directly from spreadsheets
- Instantly validate and intelligently correct journal entry information
- Automate the review and approval process
- Accelerate time-to-close with anytime, anywhere mobile access
- Maintain a complete audit trail of financial close activities
- Ensure consistent supporting documentation
- Report on manual journal entries, inter-company journal entries, reversals and more