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New in Spring 2024: 4 easy ways to boost accounting team productivity

This article is written by Yvette Ross, Director of Product Marketing with Certinia. Her goal is to help organizations understand the value of the right cloud platform and how it can help organizations run a most intelligent, agile, and connected business. Get her insights here on what the latest release of ERP will do for your productivity. 

Nobody needs to tell you that today’s businesses are under immense pressure to do more with less. You see it every day in many different areas of the organization.

One of those areas: accounting, where teams must be ever more productive and efficient. Of course, that isn’t easy if those teams are bogged down by manual, time-consuming tasks. By automating these tasks, accounting teams can free up time to focus on more strategic projects that can help their businesses grow.

That’s what ERP Cloud software from Certinia is all about: streamlining, simplifying, and automating financial management on the Salesforce platform. ERP Cloud provides accounting teams with a flexible general ledger, automated billing processes, and brilliant intelligence, all in one place. It’s real-time financials for real-time business.

Business doesn’t stand still, and neither does Certinia. We’re proud to introduce four new innovative features for ERP Cloud — features that will maximize the productivity and efficiency of accounting teams. 

1. Replacing users in accounting playbooks

Ugh. End-of-period closing is traditionally a tedious, time-consuming task. One nagging issue: When team members are unavailable to complete a task and need to be replaced, individual amendments must be made to each accounting playbook record. A huge time waster.

Problem solved. With new UI enhancements to ERP Cloud, we’ve made it quick and easy to replace users in accounting playbook records. Users can now easily remove and replace individuals in specific records, eliminating the need for individual amendments. This reduces costs by improving efficiency while erasing the risk of missed tasks during the absence of team members. It’s just one more way that Certinia is continuing to streamline the period-end process and promote seamless collaboration. 

2. Flexible cash matching

For accounting teams that support multi-company organizations or manage a lot of intercompany transactions, cash matching can be a real challenge, with unmatched transactions that can impact days sales outstanding (DSO).

Noted and fixed. Now, ERP Cloud’s Cash Matching capability supports expanded use cases to support multi-company organizations, including multi-account cash matching and matching to a specific general ledger account (GLA). Plus, with newly added cash entry mass actions, users can schedule cash entries for background posting and cancel cash entries in bulk.

There’s more. We’ve also upped the volumes supported by the cash-matching process. Users can now select up to 1,800 transaction lines for cash matching and 1,000 lines for undoing a match. That saves time and effort by automating repetitive cash management tasks.

a close-up at the cash matching feature

 3. Report-level commentary

Historically, preparing detailed reports for board meetings has been both inefficient and time-consuming. And worse, the process doesn’t provide for contextual commentary and forward-looking statements, hindering the ability to make timely, informed decisions based on cogent insights.

For that reason, Report Builder now enables report creators to make annotations against collated and individual reports. They can share assumptions, summaries, and explanatory notes with their reports, for stronger stakeholder engagement. The result: Finance and ops teams become business storytellers who can call out and spotlight the most important insights for more impactful outcomes.

4. Automated bank statement imports 

Fact: Accounting teams have multiple bank accounts and spreadsheets from which to pull data. That typically makes reconciling payments made to bank accounts time-consuming.

Until now. Certinia has partnered with Envestnet to automate and streamline bank statement imports. Now, users can conveniently import bank statements for reconciliation directly from their bank accounts — at a wide range of US, UK, and Australian institutions — without having to extract, store, and upload a CSV file. That helps cut costs by reducing manual bank statement imports and the risk of errors.

A game-changer for today’s accounting teams

In today’s challenging business climate, which demands that ever more be done with ever fewer resources, freeing up accounting teams to focus on strategic tasks that drive growth isn’t a luxury, it’s a necessity. 

With the above-enhanced features of ERP Cloud, Certinia empowers accounting teams to work more efficiently and productively — automating repetitive tasks, streamlining processes, and providing better insights.

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