SEAS-NVE is the biggest customer-owned energy group in Denmark, with 335,000 members. Specializing in electricity products and fiber-optic broadband for the private and commercial sectors means that the volume of ingoing and outgoing payments to be reconciled each month is in the heavyweight class. Reconciliation was performed manually up until 3-4 months ago…

“I was delighted to find how easy it is to use Adra ACCOUNTS,” states Merete Wriedt. “We were given brief, effective training, and because the system was logical to use right from the start, we quickly got to know it.”

110-120 man-hours per month have been reduced to 20-25 – and with less stress

“Before we got Adra ACCOUNTS, there were 3 of us who each spent a week on the monthly account reconciliation. It takes just 2 of us between 1 and 2 days now. Account reconciliation is not the most pleasant part of accounting, and we are therefore glad to have freed up so many resources for other, and more interesting work. It has also meant less stress and a more satisfying working day.”

Up to 98 % of bank reconciliation now done automatically – in max. 30 seconds

“It’s unbelievable that so many days of work can be done in just a few seconds with Adra ACCOUNTS! Our bookkeeping structure is set up to match that of the bank, which gives impressive results, including on the accounts for which we have nothing to match up against. Adra ACCOUNTScan sort by amount – with having to consider whether it’s a plus or a minus. That makes our work simpler than using spreadsheets, and most of our accounts therefore hit an automatic reconciliation rate of 80-85%.”

A wide range of search criteria make manual “residual reconciliation” faster as well…

“For example, we can search on a date or voucher number and by ‘many to one’ – a big advantage if, for example, 45 payments have been made into the bank which have been booked as one amount by us. Adra ACCOUNTSproposes its own solutions for balancing, often with the correct result. Inaccurate reconciliation can be quickly and easily reversed. Another advantage is that it is always easy to see which voucher is involved: our own are white, whilst the bank’s are yellow… “

We train our colleagues ourselves

“One of my colleagues and I have become so familiar with Adra ACCOUNTSand all its facilities, that we will soon start training our other colleagues. A process we do not expect to cause any problems, as Adra ACCOUNTSis so easy to get started with.”

Next goal: intercompany accounts

“Before long, I will be switching intercompany accounts over to Adra ACCOUNTS. I am sure that this will also make things a lot easier for us. Not least because Adra ACCOUNTSnever makes the stupid mistakes we do manually, when reconciling in a spreadsheet. The reconciliations Adra ACCOUNTS makes are 100% accurate – and I’m sure the remaining ones will also be much easier to do on the intercompany accounts,” concludes Wriedt.

We reconcile much faster with Adra ACCOUNTS than we did before.

Merete Wriedt, Accounts Assistant, SEAS-NVE