How Automation Can Help With Year-End Close

How Automation Can Help With Year-End Close

Written by 
Trovata
January 20, 2020

How Automation Can Help With Year-End Close

It’s year end.

At 8:00 pm, you find yourself reconciling cash once again. You are chasing down a handful of bank balances and transaction details. You exhale deeply as you go through the tired motions: going to each bank portal, downloading .csv files, and parsing records in Excel.

To make matters worse, this is just the reconciliation and flux analysis part. You still have to go through post-closing reporting and decipher the report on underlying changes in cash across the business as you dig into Actuals to Plan comparisons.

Even with just one bank, this process is a headache...Oh, you have THREE banks? Say goodbye to your 8+ hours of sleep -- this is going to be another looooong night.

Better start ordering pizza...and maybe a few shots of espresso.

Now imagine…

* poof  *

All your tedious, manual calculations disappear into thin air.

This is possible with Trovata.

Built by a former Controller and CFO who knows your pain all too well, Trovata is the first modern SaaS platform to automate your cash workflows and streamline month- and year-end close.

Trovata integrates with banks so all your balances and transactions are in one place. It is like using Google across all your transactions for search, charting, and cash flow analysis. Trovata automates cash reporting and even provides you with a daily direct method cash flow statement that fully automates your variance analysis!

You can access real-time, actionable insights from your smartphone or desktop. Trovata's smart technology automates reporting for cash positions, cash flow analysis, and cash forecasting.

Trovata is pre-integrated with JP Morgan, Bank of America, Wells Fargo, Citi, HSBC, PNC, SVB, and many others. These integrations make it possible for you to be up and running instantly with no extra implementation or IT required!

Trovata is a must have for every accounting, FP&A, and treasury team. In other words, anyone who deals with cash in a business.

Don't go into another month- or year-end close without Trovata, download product overview here.

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