Why Automating Journal Entry Upload Is Just the Tip of the Period Close Iceberg
Journal entries are a necessary but manually intensive and time-consuming part of the financial close. For large multinational organizations, some companies within the group might easily process more than a thousand journals each month. We’ve dealt with organizations that do a million manual journals a year. Some level of automation is clearly required to handle that volume of journals, but most organizations are missing the big prize. Think of it like the tip of an iceberg.