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Too Long to Close the Books

Excessive time is spent in reconciling inter-company due to/from accounts because inter-company transactions have to be entered manually in each company. Inter-company transactions re-keyed into multiple company databases. There are errors. Transactions not get recorded in all companies. They get recorded incorrectly resulting in difficulty reconciling the inter-company balances. The reconciliation of bank accounts is manual. It takes much time to reconcile a bank account. The finance department spends a lot of time preparing reports to get information to those that require it. Data is being re-keyed from external applications. Errors occur. Costly development projects are required to develop integration…

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