Automate Your Reconciliation Process Within Sage Banking Service with Trovata API Bank Connector™

Written by Keegan Chamberlin
January 21, 2022

Aggregating your bank data doesn’t just occur when your business has connected all your bank accounts into a cash management platform. True aggregation happens when all your financial processes and platforms are synchronized and working in harmony so you always have a single source of truth.

Your business can get one step closer to accomplishing that goal with Trovata’s integration with the Sage Bank Service. With this integration, you can automate the flow of prior-day balances and transactions from all your bank accounts into the Sage Banking Service and Sage’s product portfolio.

What does that mean for your organization?

automate reconciliation

Establish a Direct Bridge Between Your Bank Accounts and Sage Banking Service

Still, for many accountants, consolidating and normalizing global bank and transaction data is still an arduous, time-consuming process that involves logging into multiple bank portals, downloading statements, and normalizing transactions into a common format.

While many legacy systems promise to automate this process, manual intervention is often required as straight-through processing rates are still quite low. With an overreliance on manual workflows, increased risk can set in, leading to more time spent on reconciliation. And that time spent on reconciliation means less time can be spent on strategic analysis.

With Trovata API Bank Connector™, manual data aggregation can now be a thing of the past. Trovata establishes a direct bridge between your Sage Banking Service, automating the entire consolidation and normalization process of your data.

On a daily basis, Trovata will sync with your banks for the most recent transactions, and send this data straight to our Sage instance, meaning that your treasury, accounting, and finance teams can focus on strategic objectives that propel your business forward instead of spending time wrangling bank data.

Gain Complete Visibility Into Your Cash and Transactions

Visibility doesn’t just mean a line of sight – it means access. Gone are the days of having to search through pages and pages of transactions either in your ERP or on your bank accounts for a specific transaction.

Trovata’s Natural Language Search™ opens up a level of dynamic reporting that financial professionals have not had before.

With a simple search query in Trovata, you are provided transaction data across all your bank accounts from key vendors, institutions, transaction types, and more, making it easier than ever to find and reconcile transactions within your ERP. 

Automate Your Routine Reconciliation

By establishing on-rails between your bank accounts, Trovata Platform, and Sage Accounting solutions with APIs, you can ensure your organization has the most up-to-date cash insights and transactions. If you ever have a discrepancy between your ERP and Trovata Platform, finding it is as simple as performing a simple search in Trovata for your transaction data, which provides you results in seconds.

Any custom search you perform can be saved as tags, which can be leveraged as data sets for any future cash reporting, analysis, and forecasting. With these rich tools at your fingertips, you can ensure your bank reconciliation processes are easier than ever before.

inline cta 5 ways to improve the month end close process b min

The Impact

Establishing this automated feed of banking data between banks and Sage Banking Service with Trovata API Bank Connector™ is truly like getting a 5G equivalent upgrade within the finance and accounting space. In fact, the integration has already simplified the reconciliation process for many of our clients, including Yadav Enterprises. 

“We have multiple accounts, across multiple banks and tens of thousands of transactions each month. Reconciling the accounts is a mammoth task. Having Trovata automate our bank data directly into Sage Intacct is a huge timesaver for the team and significantly accelerates our month-end close process.”

Richard Pawlowski, CFO, Yadav Enterprises

Now, clients of both Trovata and Sage products, including Sage Intacct and Sage Business Management Solutions, Sage 100 and Sage 300, are now empowered to:

  • Save up to 40+ hours a week by automating your bank data aggregation
  • Reconcile bank transactions more frequently to ensure you have the most up-to-date banking information within your Sage products
  • Automate your bank data aggregation and reconciliation with no internal IT required

If you are a user of the following bank portals, your organization can start syncing data between your bank and Sage Banking Service using Trovata’s API-first solution:

  • Wells Fargo CEO®
  • Bank of America CashPro®
  • J.P. Morgan Access®

Many more bank connections will be coming throughout 2023, so please periodically check our blog for the latest updates. By modernizing your cash and transaction management with Trovata, you can eliminate manual data aggregation and cash reporting, so you can focus on strategic initiatives that drive value for your business. 

Discover how your team can eliminate manual data aggregation with Trovata’s API-powered, automated cash management platform. Get started today for free!

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