When it comes to closing the books, most finance teams start with the same basic challenge: “How efficiently can we tally up every single transaction, with as little time as possible spent on fixing errors?”
Given that the vast majority of errors are due to discrepancies caused by manual entries, you want to make sure that all your transactions throughout the month are as automated and standardized as possible – whether that’s a new sign-up, a change in a subscription, or a renewal.
Automating these transactions as they happen keeps your team sane and your data clean, which is particularly crucial during times of the year with traditionally high transaction volumes, such as the end of the quarter for B2B companies, and holiday seasons for B2C companies. While standard transactions are relatively easy to automate, more complex ones might require extra attention, including: