Getting data out of any system can be a difficult task. Formatting issues, missing data, lack of ability to modify reports, and other missing functionality can make closing month or year-end books a long and painful process. General Ledger teams have to build reconciliations, analyses, dashboards, and much more by scratch, prolonging the process and causing pain points for teams.
To increase efficiency, teams need a single tool that will provide functionality to run reports in the exact format needed, perform analyses, reconciliations, and dashboards, as well as the ability to refresh the reports to be reused month after month. In addition, the tool will need to be flexible enough to allow changes to be made on the fly when necessary. Having a tool that integrates with Excel will greatly increase productivity by saving hours on repetitive tasks, eliminating manual efforts and creating a more acceptable timeline for completion.