Technology
Bank reconciliation is a critical process that ensures accurate financial record-keeping and maintains the integrity of the accounting system.
However, traditional bank reconciliation methods can be time-consuming and laborious.
Fortunately, with advancements in OCR (optical character recognition) technology, banks and financial institutions can now streamline their reconciliation process and reduce the risk of errors.
OCR-based bank reconciliation offers many benefits, such as Increased efficiency, reduced errors and fraud, Improved accuracy and real-time reporting.