Reconciliation is an important process for any business. It lets you verify financial data so that you can avoid losses and make correct payments to vendors, customers etc. Ultimately it helps you run your business more efficiently and make financial transactions more accurately.

Financial Analysis is a necessary part of daily financial operations. It refers to the process of analysing financial data so that managers can make better-informed decisions. When this process is conducted manually it is possible that some errors occur. Also, the time taken to conduct the financial analysis manually is tremendous. However now with automation, the process of financial analysis has become easier

How does automation help?

Automation simplifies the process of financial analysis as it reduces the time taken for the process and no manual effort is required. It helps produce accurate results so that there are no errors in the decision-making process. Especially in reconciliation software where automation is used to produce the reconciliation results, saving you a lot of time and effort and aids managers in financial analysis.

Automated reconciliation for financial analysis has several benefits:

Improved Accuracy: 

Manual data entry is not needed once you switch to automation as it reduces the possibility of human errors. The software cleans the data with various tools and searches for accurate matches of transactions which reduces the risk of errors. 

Increased Efficiency: 

With automation in reconciliation, the data is processed quickly and accurately which leads to better financial analysis. It produces reports automatically with facilitates decision making letting you capitalize on any growth opportunities.

Reduced Costs: 

With automated reconciliation software, the manual effort and monetary resources spent are reduced considerably. It also helps you avoid costly mistakes which improve overall efficiency and also helps save costs over time.

Better Auditing: 

A reconciliation software automates the process and produces a comprehensive result of all transactions. This makes it easier to audit the financial statements and track all transactions.


Automation helps you scale your reconciliation along with the growth of a business. It helps you analyse large amounts of data quickly and easily. This helps improve strategic planning.

Improved Data Visualization:

A reconciliation software provides visualisation tools such as graphs and tables to make the analysis of financial data easier. It simplifies the analysis process so that the team can identify trends or patterns and make better strategies 

Improved Data Management: 

Since the software provides a centralized source to access data, it makes it easier to control or manage the data. You can view the data for particular time frames with specific fields and columns. 

Automation in reconciliation helps businesses in numerous ways, especially in the financial analysis process. It helps reduce errors, reduces costs, increases efficiency and also helps you scale along with the growth of your business. Mainly it helps make decisions based on the results generated so that you optimize your resources for maximum growth.

Start Reconciling with Cointab

With Cointab reconciliation you can automate your reconciliation process right from data upload to export of results. It cleans the data with custom rules engine to produce reconciliation results for your business. These results are all inclusive of all transactions. It shows reconciled transactions and it highlights the unreconciled transactions to make analysis easier. It also gives you a detailed view of each transaction along with a graph for a particular time period. All these factors play a huge role in simplifying financial analysis for your team.

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