A lot of businesses use SAP to record all the transactions done to and from the business. A single source of truth is made available for many business operations by SAP software, which centralizes data management. This enables businesses to quickly manage complicated business processes, provide employees from many departments with easy access, and receive real-time insights throughout the entire organization. As the entries are done by various users sometimes there can be issues or errors in the records. At times there are discrepancies between the data records in SAP and the data that is in the bank statements. Sometimes there are missing payments or receivables and sometimes errors. This can lead to a lot of disputes and losses for a business. Thus, verification of this data is necessary. This important process is very time-consuming and difficult to do as the quantity of the data is very vast. This process is made easy by Cointab. Cointab has made an automated reconciliation system through which the data is uploaded automatically, which greatly reduces the time consumption. After this, the system provides systematic results which are easy to read and analyze. All a business needs to do is read this output and take necessary actions.
The Result Displays: