Month-end close is a high-stakes process for finance teams. Yet for many, it remains a tangled mess of spreadsheets, emails and disconnected systems. The sheer volume of tools and manual workarounds creates inefficiencies, delays and a lack of visibility across the process.
But what if financial close automation was a single, unified process? It's possible with Aico’s financial close automation. Finance teams can move from scattered processes and tools to a single solution.
Common Challenges of the Month-End Close Process
For many finance teams, the month-end close process looks something like this:
• Multiple ERPs and legacy systems require manual task execution and lack integration.
• Outsourced and shared service providers working with multiple tools and processes.
• A mix of spreadsheets, emails and SharePoint are used for closing and reconciliation tasks.
• RPA bots and third-party automation handle isolated tasks but fail to unify the process.
• Lack of real-time visibility makes it difficult to track progress and identify bottlenecks.
The result?
A complex, error-prone workflow where critical tasks extend across different platforms. Making coordination difficult and increasing the risk of misstatements or delays.
A common mixture of spreadsheets, emails and SharePoint used for reconciliations and journal entries reduce visibility and control over the month-end close.
Aico: One Platform for a Unified Financial Close
Aico eliminates these inefficiencies by unifying all aspects of account reconciliation and financial close. It offers a single, intelligent platform designed to integrate with all ERP systems. This removes the need for patchwork automation and disconnected tools. Finance teams can then operate within a streamlined, end-to-end solution.
1. One System, One Workflow for the Financial Close
Finance teams still work with the same ERPs and legacy systems. But instead of jumping between different tools, they manage everything within Aico. Interconnected core functionalities enable more automation, control and a better end-user experience.
2. Goodbye to Patchwork Automated Financial Reporting
Many organisations rely on RPA bots and third-party solutions to automate small portions of the process—often 1–2% of closing activities. Aico replaces these isolated solutions with automated financial reporting. Different modules cover journal entries, reconciliations, approvals and compliance.
3. A Single Source of Truth for Month-End Reporting
No more juggling Excel sheets, email approvals, or disconnected checklists. Aico’s streamlined month-end reporting provides real-time tracking of all closing activities. Every action becomes documented and auditable. Teams have complete visibility over completed tasks and those that require attention.
4. Improved quality of data
With real-time integration, data is checked against business rules before posting. Users can refresh the latest data from the ERP system to ensure accuracy. Approval workflows require users to provide supporting evidence. This helps maintain compliance throughout the process.
Aico replaces a patchwork of isolated solutions with automated financial reporting. Different Aico modules cover journal entries, reconciliations, approvals and compliance in a single, integrated workflow.
Complete the form and download the infographic that takes you from confusion to clarity in your financial close process.
The Impact: Efficiency, Transparency and Control
The Aico subscription has an unlimited number of users, enabling all necessary people to participate in the process. Instead of struggling with fragmented systems and last-minute surprises, Aico users gain:
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Faster month-end close with fewer errors and rework.
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Full visibility and auditability across all financial close activities.
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Reduced reliance on spreadsheets, emails and third-party bots.
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Real-time and automated processes that integrate directly with existing ERPs.
By unifying financial close within Aico, organisations replace the confusion of traditional methods with a structured, transparent and highly efficient process.
" Our customers often allocate a significant portion of IT resources to integration error correction. With Aico’s pre-built mappings, we’ve achieved a 65% reduction in errors during integration testing."
- Sampo Laakkonen, Senior Consultant & SAP Development Lead at Aico
Ready to Simplify Your Financial Close Solutions?
If you would like more information about Aico, please get in touch or watch our demo.
