Bank Statement Posting
Business Challenge
Bank statement posting is one of those processes that is not strategic, yet regularly consumes valuable time and resources within the finance team. In the organizations we work with, the process typically looked like this:
Daily or periodic downloading of bank statements
Manual comparison of data with the financial and accounting system
Manual one-to-one posting of transactions
Handling exceptions and corrections
Result?
• High workload,
• High susceptibility to errors,
• Lack of scalability as transaction volumes increase,
• Using experienced accountants for purely operational tasks.
This is a classic process that “has to happen,” but it should not consume the attention of the finance team.
Subeo Business automation
Implemented Solution
As part of the automation initiative, an RPA robot was deployed to take over the entire bank statement posting process.
The Robot:
- Automatically downloads bank statements
- Logs into the financial and accounting system
- Posts transactions according to predefined business rules
- Skips or flags exceptions that require human decision-making
- Generates a work report for the accounting team
The Process Operates:
- According to a predefined schedule
- Without interruptions
- Independently of employee availability
Human Involvement Remains Focused On:
- Supervision
- Handling exceptions
- Financial and accounting review
Results:
- Significant reduction in accounting team workload
- Elimination of repetitive manual tasks
- Reduction of errors resulting from manual processing
Bank Statement Posting
Would You Like to Learn More?
We offer a free, no-obligation process analysis — simply schedule a meeting with us. We understand finance, we understand accounting, and we already have proven solutions ready for your organization.