Large Hotel Chain Achieves 97% Automated Reconciliation Across 1700+ Entries with AI.

Impact Achieved

~80%

Automation of
Data Loading

100%

Automation in Schedule & Journal Entry Creation

100%

Automated
Journal Entry Posting

Customer Digest

We faced significant challenges with time-consuming manual data entries and a complex reconciliation process, which slowed financial reporting and increased the risk of errors. Implementing HighRadius was a game-changer for us, automating these processes, significantly reducing errors, and cutting down on time-intensive tasks.

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Top Challenges

  • Extensive Month-End Efforts: Manual data entry and uploads to the ERP, along with daily verification of bank statements and prepaid journal entries, required significant time and effort. Due to labor-intensive reconciliation and verification processes, these data-gathering and processing activities consumed about sixty person-hours across 59 entities.
  • Approval Bottlenecks: The requirement for manual system logins for approvers to review and close ledger entries added complexity and delay to the financial closing process.
  • Limited Control Measures for Reconciliation: A comprehensive controller view within the ERP system is necessary to effectively reconcile variance analysis, operational tracking, and proactive measures. Enhanced email and in-app communication features are needed to streamline these processes.
highradius

Business Benefits

  • HighRadius’ Accounting helped them get granular visibility into their accounting process so they could take complete control from transaction data gathering to data processing to reconciliation. They reduced the person-hours involved by ~60%. We will deep-dive into the features offered by this solution later in the case study.

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