Many finance teams start their transformation journey by automating account reconciliations. It’s easy to see why – implementing a reconciliation solution delivers quick wins, reduces manual work, improves workflows and strengthens internal controls.

But while it’s a critical first step, how you implement an account reconciliations solution will determine whether it becomes the foundation for a truly modernized close — or just another one-off improvement.

Why the Typical Implementation Falls Short

Too often, organizations treat account reconciliation automation as a standalone fix. They:

• Limit the data they bring in. “We don’t reconcile these accounts, so leave them out.”
• Ignore related broken processes. “We’ll deal with manual journal entries later.”
• Delay the big picture. “Let’s focus on training for reconciliations now and explain everything else later.”

This piecemeal approach creates more work in the long run and delays future improvements.

Four steps to a future-ready implementation

Leading organizations take a broader approach, ensuring today’s implementation supports tomorrow’s goals.

1. 1. Think big: Streamlining reconciliations is only the beginning
   Automate up to 90% of reconciliations using business-defined rules, but remember —this is just one piece of the close. Consider how reconciliations will integrate with journal entry management, variance analysis, and audit workflows.
2. 2. Embrace implementation errors
   When errors and discrepancies surface, don’t treat them as setbacks. Use them as opportunities to fix broken processes and build best practices that will pay off across the close.
3. 3. Don’t leave data behind
   Limiting data now only creates more work later. By bringing in complete account populations from the start, you enable robust reporting and lay the groundwork for future solutions.
4. 4. Engage stakeholders early
   Involve more than just leadership. Bring in end users, analysts and other contributors early to discuss goals, gather input and encourage adoption. Broader involvement supports smoother change management and builds long-term ownership.

Transforming the close isn’t about chasing one-off fixes. It’s about laying the foundation for a continuously optimized close — one that’s faster, more accurate and delivers actionable insights.

By starting with account reconciliations and keeping the end goal in mind, you can turn a single project into a catalyst for finance transformation.

Ready to take the first step? Download the white paper, How to Effectively Implement Account Reconciliations.