Public Sector Embraces Automated Reconciliation More Than Private Sector
Survey findings reveal that organisations from the public sector have embraced automated reconciliation more heavily than those in the private sector, reports Adra Match, an account reconciliation automation firm.
According to the survey, which was conducted using a sample of Adra Match’s 3,000-strong northern European customer base, the public sector, usually seen as bureaucratic and administration heavy, accounts for two-thirds of the firm’s customers. Surprisingly, the IT and financial services sectors, which could be expected to be at the cutting edge of new processes to improve efficiency and reduce costs, account for 33% and 18% respectively of the company’s clients.
“No one would have bet on the public sector being so open to new technologies, never mind outpacing the finance and IT sectors. These results mean that a lot of education work is needed; however, our 95% client retention rate is proof that once the software is installed and the staff trained, companies really see the benefits of automated reconciliation,” said Michael Coppack, managing director UK, Adra Match.