I have spent a lot of time with finance teams and got to know their joys. However, if you know finance, then you probably know that I got to know their struggles far better! These teams rarely used ERPs. They relied on slow, outdated external finance software that passed data so slowly, we could have sent it faster via carrier pigeon.
I had the pleasure of witnessing some of those teams adapt, grow and change, and watched some boldly choose to migrate to ERP systems. When I asked them, “Why are you doing this? It’s clearly not easy!” their response was always, “James, if you had to work in this department, you’d be asking why we didn’t make this move sooner!” Their enthusiasm was palpable as they elaborated on the new system’s incredible automations and integrations, that improved productivity no end, and business intelligence that companies had scarcely dreamed of!
When the new system came in, things improved in many ways for many departments, but trouble lurked in paradise for finance teams.
“What do you mean I can’t connect with our Bank!”
For all the incredible advancements the ERPs brought, my friends in finance were always left feeling shortchanged. Every other department had all the automations that they could want, and yet finance teams were left behind. Left waiting for Oswald to log into the bank and download the bank statements, and then for Oswald to log in again as he had downloaded the wrong one! Fortunately, Oswald was an FD and had plenty of time to repeatedly perform this arduous task. But on those occasions where he was constantly snowed under with five miles of work, the task of reconciliation couldn’t even begin. However, in 2018 this all changed.
“Wait, you mean I can connect with our Bank?”
When Yavrio’s CEO/John contacted me and asked if I wanted to get on board the Open Banking train, he didn’t have to explain to me why. I could see how finance departments could be transformed by this technology, how finance departments could finally join their contemporaries with automations, integrations, and business intelligence, and given them back the time to use it.
What is going on?!
Here’s where Yavrio comes in. Yavrio automates the mundane task of bank account reconciliations, effortlessly pulling the statements from the bank account, reconciling them against the ledger, and posting them – all without any manual intervention.
Thanks to an upcoming partnership, Yavrio will also enable you to send domestic and international payments in bulk, with just a single click from the payment journals, all that with no limit on how much you can send.
Say goodbye to downloading files for reconciliation and clunky bank interfaces. Yavrio is the ultimate solution for your finance needs, allowing your finance department to finally enjoy the complete ERP experience.
