Transitioning the Account Reconciliation Process to a Consolidated Location

Description: Traditionally, Account Reconciliation activities have been widely dispersed across the Finance organization and the related business units at many companies. However, recently there has been an emphasis at some corporations to consolidate these activities into a central location to standardize the process, gain greater efficiencies, and improve overall quality levels. This Peercast will look at the steps companies are taking in this area and what the results have been up to this point in time.

Peercast Poll Results

Poll Title: Transitioning the Account Reconciliation Process to a Consolidated Location

Background: Traditionally, Account Reconciliation activities have been widely dispersed across the Finance organization and the related business units at many companies. However, recently there has been an emphasis at some corporations to consolidate these activities into a central location to standardize the process, gain greater efficiencies, and improve overall quality levels. This poll looks at the status of consolidating the Account reconciliation process and drivers in making the decision to do so.

Poll Question: What is the status at your company of consolidating the Account Reconciliation process?


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  Implemented – highly consolidated 36%
  Implemented – moderate consolidation 18%
  Approved – in process or limited consolidation 4%
  Evaluating, not yet decided 32%
  Evaluated, decided no 0%
  Not considered 11%
  Tried, not successful 0%

Poll Question: What was the primary driver in your company’s decision to consolidate the Account Reconciliation process?


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  Implementation of a new financial system 0%
  Implementation of a new technology solution specifically related to Account Reconciliations 11%
  Implementation of a new process design for Accounting / Finance 18%
  Consolidation of Accounting / Finance operations as a whole 39%
  Other (Please comment) 7%
  None – We have not consolidated the Account Reconcilation process 25%