Chapter 1: The Cost of Batch Accounting
Before automation, ConferenceDirect's accounting process was built around batch execution at month-end:
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1
1,000+ events processed in one cycle
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2
Revenue recognition, expense accrual, and reversals handled manually
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3
Journal entries created and uploaded manually
Daily Revenue Reconciliation (Pre-Transformation)
Before automation, daily revenue reconciliation at ConferenceDirect was manual and time-intensive, even with invoice-level data in the ERP. Accountants downloaded transactions into CSV files, sifted through thousands of entries, and matched them against 1,000+ events to validate revenue and accruals. This fragmented, spreadsheet-heavy approach consumed nearly 60% of their day and left significant room for errors. Discrepancies often surfaced only at month-end, leading to correction entries, rework, and increased reporting risk.
Operational Impact: Close Stretched Up to 15 Days
- Missed opportunities for real-time visibility
- High volume of manual journal entries
- Increased correction entries and rework
