Automated reconciliation has become essential for financial institutions, especially with the rapid growth of digital banking and real-time payments. Manual reconciliation is error-prone and time-consuming, making it difficult to meet financial close deadlines. Automating reconciliation improves efficiency, reduces errors, and enhances internal controls. It allows for faster, more accurate transaction matching, exception handling, and case management. The increase in digital payments, especially P2P transactions, puts additional strain on accounting, making automation a necessary tool to keep up with the volume and complexity of transactions.

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