The Modern Finance Department

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Traditionally, a subledger could help an institution have more granular data and allow for an easier GL reconciliation, the modern subledger can do much more than helping banks account for transactions.

A Modern Subledger can Transform your Organization A modern subledger is vastly different than the subledgers of years past. While traditionally a subledger could help an institution have more granular data and allow for an easier GL reconciliation, the modern subledger can do much more than helping banks account for transactions. Subledgers can be the turning point for many organizations, helping them to meet several key strategic initiatives and drive the organization forward. Among other things a modern subledger can help institutions to achieve:

• A faster close, even allowing for a daily close, by combining a detailed accounting process with robust financial reporting, management analytics and controls; and,
• True actionable insights, enabled by domain-aware software, that can bring together information across the company and help banks stay ahead of stakeholder questions before they arise.

By combining data from various parts of the organization, a modern subledger can help finance organizations lead the charge to a more modern institution by doing more than accounting for past performance but being a central area for insightful analysis.

While many companies in other industries can easily use a pre-built, off-the- shelf subledger, banks simply cannot. They are too complex, too unique, too regulated, and too tied to economic factors. Instead, they need a system purpose built for them to be able to reap the benefits of a subledger. This paper will address the key features and benefits of a domain aware subledger.