Results
+60% cycle reduction
Month-to-month consistent reconciling items
Expedited resolution of non-reconciling items
Company Profile
International Destination Resort and Convention Facility Operator build and operate unique destination resorts designed to provide a total resort experience, including first-class accommodations and dining, world-class entertainment, state-of-the-art meeting, and convention facilities, and high-quality retail and gaming experiences.
Scope Highlights
- 5 output reports per reconciliation
- 360 reconciliations across 11 brands
- ReconBotz pre-built solution
- GL reconciliation as a service
- Oracle ARCs
- Microsoft Azure
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Get a QuoteChallenge
A multinational hospitality company manages many different brands in its portfolio. Preparing the reconciling entries during the monthly account reconciliation process was time-consuming, taking more than seven days to complete. The finance team was concerned that the closing time would grow as the company added brands and locations. Complicating the solution was that they operate in a heavily regulated portion of the market, requiring extra focus on compliance. The finance team needed to perform its monthly reconciliations faster without increasing the headcount or violating regulations.
Solution
The company now uses the WonderBotz ReconBotz solution to handle monthly account reconciliation activities. ReconBotz is a BPO solution, hosted on the cloud and designed to quickly deliver outcomes. It streamlines the close using externalized business rules, giving complete control to the finance team to manage existing accounts and quickly scale to add new ones. It automatically receives data from multiple sources and generates Oracle ARCs templated output reports and supporting evidence reports to meet the client’s needs. When it encounters an item it cannot reconcile, it provides the preparer with all of its work, enabling them to resolve the issue quickly.
