Month-end close is a high-stakes process for finance teams. Yet it remains a tangled mess of spreadsheets, emails and disconnected systems. The sheer volume of tools and manual workarounds creates inefficiencies and delays. Not to mention a lack of visibility across the process.
But what if financial close automation could become a single, unified workflow? It can with Aico’s financial close automation. Finance teams can move from scattered processes. And choose a seamless, automated approach with transparency and control.
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 requiring manual intervention.
• Outsourced and shared service providers working with different tools and processes.
• A mix of spreadsheets, emails and SharePoint used for reconciliations and journal entries.
• RPA bots and third-party automation handling isolated tasks but failing to unify the process.
• Lack of real-time visibility making it difficult to track progress and identify bottlenecks.
The result?
A complex, error-prone workflow where critical tasks are scattered 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. It brings all aspects of account reconciliation software into a single, intelligent platform. Instead of a mixture of automation and disconnected tools, finance teams work within a streamlined, end-to-end solution.
Here’s how Aico’s finance process automation transforms financial close:
The result? Automation doesn’t just save time, it frees up your team to focus on analysis, insights and strategic initiatives, unlocking their full potential.
1. One Financial Close Platform, One Financial Close Workflow
Finance teams still work with the same ERP financial close systems and legacy systems. But instead of jumping between different tools, everything is managed and visible within Aico. From the general ledger teams to record-to-report process owners, everyone interfaces with one platform, ensuring consistency and visibility.
2. Automation Automated Financial Reporting
Many organisations rely on RPA bots and third-party solutions to automate small portions of the process—often just 1–2% of closing activities. Aico replaces these isolated solutions with automated financial reporting. The different Aico modules cover journal entries, reconciliations, approvals and compliance in a single, integrated workflow.
3. A Single Source of Truth for Month-End Reporting
No more juggling spreadsheets, email approvals or disconnected checklists. Aico’s streamlined month-end reporting provides real-time tracking of all closing activities, ensuring that every action is documented and auditable. Teams have complete visibility over completed and incomplete tasks.
4. Faster, More Reliable Enterprise Finance Automation Reporting
With Aico’s enterprise finance automation, financial close isn’t only about completing tasks. It’s about ensuring accurate, timely reporting. Data flows from reconciliations and journal entries to financial reports. This allows finance teams to meet regulatory requirements. And deliver insights to stakeholders with confidence.
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.
Click here to access the From Confusion to Clarity infographic.
The Impact: Efficiency, Transparency and Control
Aico doesn’t change who is involved in the financial close. It makes the process smarter. Instead of struggling with fragmented systems and last-minute surprises, enterprise finance teams 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?
Just click the button to see our infographic on the most common state of enterprise financial close, and see for yourself how this can be made simpler with Aico.
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If you would like more information about Aico, please get in touch or watch our demo.
