Key Results at a Glance

• Processing Efficiency: ~30–40% less time spent on reconciliation tasks

• Accounting Time Freed: 48 hours of manual processing eliminated each month

• Annual Cost Savings: £3,600–£4,800 in reduced reconciliation workload

• Processing Cost Reduced: ~50% by shifting work to admin workflow

The Challenge

Astute Private Wealth, a UK-based financial advice firm, handled its monthly income reconciliation through a highly manual and resource-intensive process.

Provider statements were scanned and passed to the accounting team, who then:

• Reviewed each statement line by line

• Manually transcribed figures into Excel

• Formatted the spreadsheet to match the CRM’s upload requirements

• Uploaded the final file into Intelliflo (iO)

This created several operational challenges:

Manual effort: Accounting staff were required to review and transcribe provider statements line by line, creating a repetitive and time-intensive process each month.

Lost capacity: Income reconciliation consumed significant accounting time that could otherwise be spent on other operational works.

Cost inefficiency: Highly skilled finance staff were spending time on administrative processing that could be automated or handled by lower-cost operational roles.

Error risk: Manual transcription increased the likelihood of data mistakes and reconciliation mismatches.

Astute needed a way to automate the statement processing and reduce the burden on its higher-cost accounting team while preserving data accuracy and CRM compatibility.

The Solution

Astute partnered with 4admin to automate the income reconciliation workflow and remove manual data entry.

Key elements of the rollout:

1. Automated Statement Scanning

Provider statements are processed in under a minute using 4admin’s AI-assisted document handling, eliminating manual transcription.

2. Built-In Transaction Validation

Data extracted from statements is automatically checked and presented in a structured interface, reducing the need for manual review.

3. CRM-Ready Output

4admin produces an Excel file formatted precisely for Intelliflo (iO), removing the need for manual formatting before upload.

4. Role Reallocation

The task of handling reconciliation shifted from the accounting team to an administrator, freeing higher-cost finance resources for more strategic work.

The Results

The impact was measurable and immediate:

~30–40% less time spent on reconciliation tasks, with automated data extraction replacing manual transcription.

Up to 48 hours of accounting time freed each month, allowing the finance team to focus on higher-value financial oversight and reporting.

£3,600–£4,800 in annual cost savings through reduced manual reconciliation workload.

~50% reduction in processing cost by shifting reconciliation tasks from accounting to an admin-led workflow supported by automation.

Errors and reconciliation mismatches significantly reduced, improving data quality and CRM uploads.

What was once a bottleneck in month-end processing became a streamlined, repeatable workflow.

What They Had to Say

“Before implementing the Income Reconciliation solution, provider income in the firm was handled entirely manually. Each month, the Finance Team received fee and commission statements in both postal and PDF formats and had to manually enter all the data into spreadsheets before uploading it into iO, the firm’s CRM system.

This process was time-consuming, taking around one and a half days every month to process 40–50 statements. It also carried a significant risk of human error, such as incorrect figures, missed entries, or duplicated lines, which often led to reconciliation issues and delays in financial reporting.

Overall, the income handling process was labour-intensive, prone to errors, and lacked the efficiency and automation that the Income Reconciliation solution has now introduced.”

— Finance & Operations Team, Astute Private Wealth

Why It Worked

Automation: Removed manual line-by-line transcription.

Accuracy: Validation reduced reconciliation errors.

Cost Efficiency: Work reassigned to lower-cost admin staff.

Workflow Integration: Direct compatibility with Intelliflo ensured smooth adoption.

Scalability: The firm can now handle higher transaction volumes without increasing costs.

What’s Next

With income reconciliation now streamlined, Astute Private Wealth is exploring additional back-office workflows to automate through 4admin, further strengthening efficiency and freeing up key resources across the business.

Want to Reduce Reconciliation Costs and Free Up Your Finance Team?

Experience how 4admin automates income reconciliation without disrupting your CRM workflow.

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