Automatically monitor unexpected GL account balance movements in real-time.

Discrepancies in our GL account balances are typically revealed at the end of the month when our accounting teams perform account reconciliations. Due to the lack of real-time variance analysis throughout the month, we are missing the early signs of anomalies in our GL transactions, which require immediate attention. In accounting, this leads to a build-up of manual work during financial close. In contrast, in management, the problem leads to inaccurate performance evaluation and a lack of business control and accountability

Features

• Variety of data sources: Aico can read GL data from your ERP directly and import other sources via file uploads (Excel, CSV, XML etc.)
• Flexible varience rules: Configure your variance rules by percentage or absolute amount movement. Each variance task can contain multiple rules, which can be given different alert statuses.
• Powerful automation: Aico automatically calculates the difference between your data sources and where unusual movements are detected. Alerts will be triggered, and tasks routed to a team member to investigate and provide supporting evidence to explain the change in amount.
• Dashboards and reporting: Using Aico dashboards and lists, the variances are tracked in real-time and quickly show those out of the expected range. It can also show who is responsible for explaining these differences and monitor response times for explaining.