Most organizations still rely on balancing their spreadsheets with a highlighter, cautiously marking as they go along. When it comes to reconciling bank accounts, they do the same. For anyone that’s performed a bank reconciliation, you’re all too familiar with how grueling the process is.
Don’t get me wrong, reconciliations are both beneficial and necessary. However, look at it from this standpoint: on the one hand, you balance your accounts. That’s good. On the other hand, money is spent doing it. Since most organizations reconcile once a month, that cash adds up.