Best Numeric Alternatives for Financial Close and Reconciliation

The financial close process has long been one of the most time-consuming and error-prone activities finance teams face. Tackling it without leaning on financial automation software is next to impossible now. While platforms like Numeric have certainly helped streamline the process, they are not without their gaps, from limited customization and complex setup to integration challenges. 

If you're already using Numeric and finding it doesn't quite meet all your needs, or you're evaluating close automation platforms and want to make an informed decision before committing, you’re in luck. Here, we’ll explore the top 10 compelling Numeric alternatives, examining what makes each unique, who they serve best, and when they represent a better fit than Numeric. 

Numeric Overview

Numeric is a financial close automation platform that leverages AI to perform critical accounting functions like close management, flux analysis, reporting, account reconciliation, transaction monitoring, and analytics. With this AI-native platform, you can:

• Pull in data sources from ERPs, GLs, and other systems.
• Monitor transactions in real time and receive alerts for anomalies. 
• Automate reconciliation and flux explanations and identify the main drivers of variance.
• Discover problems and improve the performance of your close processes with AI. 
• Build custom reports and work on them in collaboration with your team. 

Numeric Pricing

Numeric follows a tiered pricing model, offering three distinct plans, each tailored to specific team needs and ERP environments. It has not disclosed the exact subscription costs publicly, so you'll have to contact sales for custom quotes. The pricing plans include:

1. Essentials Plan: For managing the monthly close process. Its pricing starts at $30/month/ user. 

2. Growth Plan: For automating the month-end process on QuickBooks and Xero. It includes all features present in Essentials. 

3. Enterprise Plan: For close processes on mature ERPs, like NetSuite. It delivers advanced capabilities and includes features of both Essentials and Growth.

Why look for Numeric Alternatives

Numeric, no doubt, offers a range of features to simplify your close process, but there are certain limitations that can still disrupt smooth operations, prompting many teams to explore Numeric alternatives. 

For one, the initial setup and learning curve can be challenging, especially for teams new to automation platforms.

Additionally, maximum efficiency relies heavily on seamless integration with existing financial systems, which isn’t always easy to achieve. Early adopters have also noted limited customization options, as the platform continues to evolve.

Finally, the lack of compatibility with all ERP systems can create friction for organizations using diverse financial tools.

Top 10 Numeric Alternatives

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Here is the list of the top 10 best Numeric alternatives to help you with your financial close and reconciliation processes: 

1. Osfin

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Overview: Osfin is a modern financial operations platform that helps organizations automate complex reconciliation and reporting processes with significant ease and complete accuracy. 

Key features:

• A file-format agnostic platform that ingests data from multiple sources, no matter how the data arrives.
• With 170+ integrations, it connects to systems, payment gateways, banks, and ERPs, always keeping your data pipelines flexible and broad. 
• Applies custom deviation tolerances during ingestion to filter out low-quality data before the reconciliation stage begins.
• Detects duplicates and outliers as data enters the system, reducing the chances of downstream errors or rework.
• Uses a logic-based matching engine that supports many-to-one and one-to-many transaction linkages and multi-way reconciliations like two-way, three-way, four-way, and five-way, so complex transaction relationships are handled smoothly.
• Auto-reconciles payment gateway reports with commission, tax, and fee breakdowns, eliminating manual breakdowns.
• Unmatched or discrepant transactions are automatically flagged, with the system assigning a precise reason for the mismatch.
• The platform routes these exceptions via a built-in ticketing and exception-handling engine, escalating to the correct team member.
• Live dashboards display match status, exposure levels, and exception queues, letting finance teams stay on top of open issues.
• Offers compliance-ready reporting and supports audit-ready logs of manual and automated workflows with full transaction history and traceability.
• Provides enterprise-grade security with 256-bit encryption, role-based access control, two-factor authentication, maker-checker flow, and having compliance footprints across SOC 2, PCI DSS, ISO 27001, GDPR.

Best for: Institutes like banking, fintech, retail, gaming, and capital markets to automate high volumes of transaction reconciliation with 100% accuracy and unmatched speed. 

Pros:

• Teams can reconcile huge volumes of transactions in minutes, for instance, 30 million records in just 15 minutes. 
• Fewer exceptions and less downstream headache.
• Live dashboards and exception queues give finance leaders a clear view of risk, exposure, and process health.
• Dedicated customer support team that’s always responsive. 
• Cost savings due to revenue leakage.
• Intelligent interface provides valuable insights that can bolster data-driven decision making.  
• Extensive customization of the whole reconciliation process.

Ratings: 5.5 on TopAI.tools.

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2. FloQast

Overview: FloQast is an accounting platform that uses AI agents to automate reconciliations, financial close, and compliance reporting. 

Key features:

• AI-powered reconciliation and reporting. 
• Built-in task management features. 
• Real-time monitoring and audit-ready workflows. 
• Intelligent transaction matching.

Best for: Mid-size to large organizations in need of large-scale automation of financial processes. 

Pros:

• Reduces time for reconciliation and close processes. 
• Pre-built templates and training materials for quicker onboarding. 
• Intuitive and easy to navigate platform. 

Ratings: 4.6 on G2.

3. Vena

Overview: Vena is a financial analysis and planning platform that helps with reconciliations, month-end close, budgeting, and tax provisioning. 

Key features:

• Combines native Excel interface with cloud-based workflow. 
• Integration with ERPs and other systems.
• Customizable templates for account reconciliation, financial consolidation, and financial statement reports.
• Tools to estimate taxes using current, historical, or projected financial data.

Best for: Mid-sized to large organizations needing to streamline budgeting, forecasting, and reporting, especially those who prefer an Excel-based platform. 

Pros:

• Diverse range of tools. 
• Minimal training due to Excel compatibility.
• Quick integrations with ERPs.
• User-friendly interface. 

Ratings: 4.5 on G2.

4. Sage Intacct

Overview: Another one of the Numeric alternatives is Sage Intacct, an AI-driven cloud accounting and financial management platform that automates different types of reconciliations. 

Key features:

• Automated reconciliation, accounts payable, accounts receivable, and journal entries.
• Integration with other business tools for better data flow. 
• Customizable dashboards and reporting tools.
• Monitoring of expenses against the budget. 

Best for: Growing to mid-to-large companies with multi-entity structures dealing with complex financial workflows. 

Pros:

• Manage all entities in a single system. 
• User-friendly and intuitive interface. 
• Audit-ready compliance reports. 

Ratings:  4.3 on G2.

5. OneStream

Overview: OneStream is an enterprise financial management platform that helps with financial consolidation, planning, account reconciliations, and financial reporting.  

Key features:

• Single platform for financial reporting, planning, forecasting, and analytics. 
• Trial balance single-sourcing so reconciliation and reporting always use the same data source.
• Transaction matching and ESG reporting and planning. 
• Integration with ERPs, GLs, and other systems. 

Best for: Enterprises that need a unified platform for complex financial consolidation, planning, reporting, and analytics. 

Pros:

• Quick initial setup time. 
• Clean and intuitive UI. 
• Real-time insights for better visibility. 
• Unified platform for multiple workflows. 

Ratings:  4.6 on G2.

6. DOKKA

Overview: DOKKA is another Numeric replacement that helps with AI-powered financial close, journal entries, reconciliation, and accounting processes. 

Key features:

• Automated data extraction from multiple sources. 
• Audit-trail logs to ensure compliance. 
• Transaction matching across entities, currencies, and systems.
• Real-time review and analytics. 

Best for: Mid-market companies and scaling enterprises looking to automate financial close with AI-driven workflows. 

Pros:

• Real-time visibility leads to faster resolution. 
• Automation of repetitive manual tasks. 
• Quick setup and easy integrations.

Ratings: on G2.

7. HighRadius

Overview: HighRadius is a financial operations platform that simplifies a range of processes with AI-powered workflows. These include financial close, accounts payable, treasury management, reconciliation, and consolidation and reporting. 

Key features:

• Pre-built integrations with ERPs, banks, and other systems. 
• AI-driven transaction rule matching. 
• Live dashboards for monitoring KPIs. 
• Intelligent automation of risk management and issue resolution. 

Best for: Organizations looking to automate functions like order-to-cash, consolidation, treasury, and record-to-report. 

Pros:

• Clean and intuitive user interface. 
• Extensive customization. 
• Enterprise-level scalability. 

Ratings: 4.3 on G2.

8. Xero

Overview: Xero is an accounting platform that simplifies bank reconciliation, payment processing, invoicing, and reporting and analytics.  

Key features:

• Reconciliation of banking transactions. 
• Account, expense, and invoice management. 
• Tools for project planning, budgeting, and invoicing. 
• Metrics to track financial health and cash flow. 

Best for: Small enterprises that perform simple reconciliation processes.

Pros:

• User-friendly interface. 
• Cloud-based accessibility. 
• Real-time reporting and deep integrations. 

Ratings: 4.4 on G2.

9. Aico

Overview: Aico is a financial close automation platform that streamlines reconciliation, journal entries, and intercompany processes through real-time ERP integrations.

Key features:

• Organization and management of close tasks. 
• Automation of reconciliation and journal entries accounting. 
• Transaction matching and intercompany invoicing.

Best for: Large organizations seeking to simplify their complex financial processes.

Pros:

• Configurable and user-friendly platform. 
• Robust integrations with ERPs.
• Strong compliance controls built into workflows.

Ratings: 4.8 on G2.

10. Prophix

Overview: Prophix is a financial performance management platform that offers to simplify financial close and consolidation, planning and analysis, and reporting. 

Key features:

• AI-powered budget collection and reconciliation.
• Unified interface for plans, forecasts, and performance metrics. 
• Multi-entity and multi-currency consolidations.  
• Automated creation and posting of journal entries. 

Best for: Mid-market enterprises looking to streamline their budgeting, forecasting, and financial reporting processes.

Pros:

• Audit-ready reports for better compliance. 
• User-friendly and easy to use platform. 
• Deep, native integrations. 

Ratings: 4.4 on G2.

The Bottom Line

It's clear that the financial operations software market offers diverse solutions, each with unique strengths. The key is finding alignment between your specific pain points and a platform's core strengths. 

Consider your transaction volumes, complexity of reconciliations, implementation timeline constraints, budget parameters, and your team's technical comfort level. The best software is the one that matches best with all your business needs and the one your team can actually use effectively.

Osfin offers a compelling Numeric alternative that combines the speed and user-friendliness of modern platforms with enterprise-grade power. Purpose-built for banking, fintech, payments, and insurance sectors, Osfin processes millions of transactions with 100% match accuracy while maintaining real-time visibility.

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FAQs

1. What are Numeric's limitations?

Numeric’s limitations include a steep initial setup and learning curve, dependency on seamless integration with existing financial systems, limited customization options for early users, and incomplete compatibility with all ERP systems, which can obstruct your flexibility and operational efficiency.

2. How does Osfin differ from traditional reconciliation tools?

Osfin is purpose-built for high-volume reconciliation with 100% match accuracy across millions of transactions. Unlike general accounting software, it offers logic-based anomaly detection, 170+ native integrations, real-time processing, and handles complex data formats like ACH, SWIFT, and ISO 20022 automatically.

3. What are some Numeric competitors?

Some of the common Numeric competitors include Osfin for high-volume, accurate reconciliation, FloQast for accountant-friendly close automation, OneStream for unified corporate performance management, HighRadius for autonomous finance, and Sage Intacct for cloud accounting and financial management. 

4. Is my financial data secure with Osfin?

Yes. Osfin employs bank-grade security with 256-bit encryption, SOC 2 Type II certification, role-based access controls, multi-factor authentication, complete audit trails, regular penetration testing, and compliance with GDPR, PCI-DSS, and industry regulations.