Efimis, a best-in-class legal financial management platform, has enhanced the bank reconciliation capabilities within its product, helping law firms reduce the administrative burden associated with one of the most compliance critical processes in legal finance and legal accounting.
Bank reconciliation has traditionally involved fragmented processes, manual statement handling and time intensive transaction matching. Efimis is tackling these challenges by providing firms with greater connectivity, improved transaction visibility and more efficient reconciliation capabilities through bank feed functionality and open API connectivity, enabling bank transactions to be securely and seamlessly imported directly into the platform.
The enhanced functionality is designed to simplify and accelerate reconciliation activity while maintaining full visibility and control throughout the process. Tools including Suggested Matches, simultaneous Post & Match functionality and enhanced user experience features help finance teams process transactions more efficiently, reducing repetitive manual activity without removing oversight from the reconciliation process.
Tom Spedding, Product Manager at Efimis, commented, “Bank feed functionality gives firms faster access to transaction data, reduces the need and risk of manual statement handling and helps cashiers complete reconciliations more efficiently while maintaining full transparency and control throughout the process.”
Tom continued, “Efimis is the only legal accounting software that provides firms with all their financial needs in one connected platform, and enhanced bank reconciliation functionality is another example of how we’re helping firms operate from a single financial core with greater visibility, efficiency and control.”