About Consol

Innovative Balance Confirmation Solution

Consol is an innovative solution from Nirvaaha, designed to streamline and automate the traditionally manual process of obtaining balance confirmations for Accounting and Finance teams.

Our Expertise

The team at Nirvaaha, with their extensive consulting expertise, has crafted Consol to automate manual tasks and boost team efficiency. We understand the challenges faced by finance professionals and have developed a solution to address these pain points.

The Challenge

In many organizations, collecting balance confirmations from various stakeholders such as customers, vendors, and internal teams requires significant manual effort. This process often involves:

• Back-and-forth communication
• Frequent follow-ups
• Time-consuming data validation
• Increased risk of errors

Our Solution

Consol aims to eliminate these inefficiencies by providing an automated platform that handles the entire workflow seamlessly. Our solution integrates various processes to create a comprehensive balance confirmation system.

Key Features

1. Automated Requests: Automatically generates and sends balance confirmation requests to relevant stakeholders.
2. Centralized Tracking: Tracks the status of each request in real-time with the help of an intuitive dashboard, ensuring that all confirmations are followed up efficiently.
3. Error Reduction: Reduces human errors by automating data entry and reconciliation processes.
4. Timely Reporting: Provides FP&A teams with up-to-date balance confirmations, improving financial reporting accuracy and decision-making.
5. Boosted Response Rate: Automating the ease of responding significantly increases the response rate from stakeholders.

The Consol Advantage

By using Consol, finance teams can:

• Save time and resources
• Improve accuracy in financial reporting
• Enhance stakeholder relationships through efficient communication
• Make more informed financial decisions based on timely data