Optimization of Bank Reconciliation Processes

Context and Challenge

The finance department processed movements from approximately 250 bank accounts, distributed across multiple banks, geographies, and currencies.

The process was manual and involved:
• Logging into multiple online banking portals to download transaction statements;
• Manually creating bank statements in SAP;
• Subsequent reconciliation dependent on manual verification;
• Tight closing and reporting deadlines, requiring constantly up-to-date information.

This model increased the risk of errors, caused frequent rework, and delayed the availability of financial information for management decision-making.

Solution Implemented

The team implemented a solution based on the nBanks platform, which aggregates bank accounts via Open Banking, providing a single interface for movements across different banks, currencies, and countries.

The solution included:

1. Centralization of bank transaction data in nBanks, with direct connection to all relevant accounts;
2. Definition of automated categorization and classification rules aligned with the chart of accounts and internal control requirements;
3. Integration with SAP via API, enabling:
   • Automatic import of bank statements into SAP;
   • Direct and structured posting of transactions in the system;
   • Daily bank reconciliation with monitoring and alert mechanisms.

Manual intervention was reduced to exceptions or transactions requiring additional validation.