Best Solvexia Alternatives for Financial Close and Reconciliation

As per the reports of Global Market Insights, the market size for finance automation is expected to grow at a CAGR of 14.2% between 2024 and 2032. And when the growth is this high, it’s not surprising to see the marketplace filled to the brim with diverse software solutions. 

Solvexia is one such leading finance automation software that helps finance teams with their reconciliation and other data processing tasks. But when it comes to financial operations, every organization faces distinct challenges, workflows, and requirements, and a one-size-fits-all approach hardly works. 

If you are in the market seeking more specialized features, ease of usability, better interface, a different pricing structure, or simply exploring other Solvexia competitors, this guide has got you covered. 

We’ll examine the best Solvexia alternatives, helping you identify the solution that best aligns with your organization's specific needs and objectives.

Solvexia Overview

Solvexia is a no-code automation platform that helps with financial close, reconciliations, analysis, and reporting. Used by organizations like banks, insurers, retail, pharmaceuticals, wealth managers, it streamlines complex financial processes without requiring extensive coding knowledge or IT resources. With Solvexia, you can: 

• Use drag-and-drop building blocks that allow you to collect and transform data into interactive reports and analytics.
• Automate processes like reconciliations, revenue and expense reporting, regulatory compliance, and rebate management. 
• Integrate directly with your existing resources, such as ERP, CRM, and data warehouse systems for comprehensive analysis.

Solvexia Pricing

As far as the pricing is concerned, Solvexia has not disclosed it on its website and you’ll have to contact the sales team and get customized quotes. However, according to some third-party software review platforms, pricing usually depends on the number of users, deployment type, and the complexity and scale of the features you want to use it for. 

Why Look For Solvexia Alternatives

Top 10 Solvexia Alternatives

Here is a list of the top 10 best Solvexia alternatives that you can choose from to streamline your financial operations: 

1. Osfin

Overview: Osfin is a low-code financial operations platform that leverages intelligent automation to simplify complex reconciliation and reporting of high-volume transactions. 

Key features:

• Imports data from multiple sources through 170+integrations in any format, be it CSV, JSON, MT940, ISO 20022 XML, or a BAI2 file. 
• Applies custom deviation tolerances and detects outliers at the point of ingestion to avoid downstream data quality issues. 
• Performs complex multi-way, logic-based transaction matching during reconciliation, including many-to-one, one-to-many, two-way, three-way, four-way, and five-way reconciliation. 
• Automatically flags unmatched transactions with accurate reasons and routes them to the appropriate team member. 
• Provides audit-ready logs and compliance reports with complete traceability of manual and automated operations and transaction history. 
• Offers complete security through 256-bit encryption, role-based access, maker-checker flow, and two-factor authentication.

Best for: Osfin is best suited for financial institutions that want to simplify high-volume, complex financial operations with 100% accuracy and efficiency. 

Pros:

• Automatically reconciles 30 million entries in just 15 minutes with 100% accuracy. 
• Provides real-time insights into the reconciliation process through centralized and intuitive dashboards. 
• Reduces reliance on IT through intuitive low-code/no-code workflows. 
• Offers a built-in reporting and ticketing module.  
• Comes with a dedicated team for continuous and proactive support. 
• Allows comprehensive customization for the whole reconciliation process, from ingestion to reporting. 
• Leads to significant cost savings and productivity by eliminating revenue leakage. 

Rating: 5/5 on TopAI.tools.

Pricing: With Osfin, you get a subscription-based pricing model. You can get customized pricing plans according to your specific business needs by contacting the sales team.

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2. BlackLine

Overview: BlackLine is a cloud-based software that automates financial close and other accounting processes. 

Key features:

• Automates account reconciliations and provides accurate financial statements. 
• Allows real-time data processing.
• Offers a centralized dashboard for tracking and managing accounting tasks.

Best for: Mid-sized to large organizations with a highly accomplished finance team which can overcome the steep learning curve easily. 

Pros: 

• Automation of manual and repetitive tasks.
• Centralized workflows with real-time visibility and transparency.
• Audit-trail and compliance reporting. 
• Integration with various accounting systems. 

Rating: 4.5 on G2. 

Pricing: BlackLine’s pricing is not publicly available. You’ll have to contact the sales team for custom quotes. 

3. FloQast

Overview: Another Solvexia alternative is FloQast, which helps finance teams manage their month-end close process. It offers dashboards and reporting tools and integrates well with ERP systems.

Key features:

• AI-powered reconciliation and real-time monitoring.
• Integration with ERPs and cloud platforms like Microsoft Suite and Slack 
• Collaborative workflows through centralized dashboards and version controls. 
• Delegation and management of reconciliation tasks. 

Best for: FloQast works best for mid-sized to large organizations looking for a user-friendly and easy-to-use financial close platform. However, it can be costly for small organizations. 

Pros: 

• Pre-built templates smoothen the onboarding.
• Simple and easy to use. 
• Efficient task management. 

Rating: 4.6 on G2.

Pricing: The pricing is not disclosed on the platform and usually depends on the specific requirements, size, and number of users of the organization. 

4. Adra by Trintech

Overview: Adra by Trintech is a leading cloud-based financial close software that automates reconciliation, transaction matching, journal entries, and reporting. 

Key features:

• Automation of transaction matching across multiple sources. 
• Real-time analytics through customizable dashboards and reports. 
• Automated, audit-ready balance sheet reconciliations.
• Management of all tasks related to the financial close.

Best for: Mid-sized to large organizations looking to automate complex financial close processes faster.

Pros: 

• Automation of repetitive tasks.
• Easy to learn and navigate. 
• Intuitive and clean interface. 

Rating: 4.5 on G2. 

Pricing: The pricing is not disclosed on its website. You’ll have to get in touch with their sales team for a custom quote.

5. AutoRek

Overview: AutoRek is another one of the Solvexia competitors that is used for end-to-end automated reconciliation, data control, and compliance.  

Key features:

• AI-driven real-time reconciliation.
• Automated transaction matching and exception handling. 
• Data ingestion across multiple formats. 
• Built-in frameworks and audit-ready workflows for compliance. 

Best for: Large organizations that deal with a high volume of transactions and need advanced financial reporting and reconciliation. It’s not that well-suited for small organizations because of high cost. 

Pros: 

• Faster processing due to automation of repetitive tasks. 
• Can handle large-scale and complex datasets.

Rating: 4 on G2. 

Pricing: AutoRek has also not revealed its pricing on its website. You’ll have to request custom quotes from the sales team.

6. ReconArt

Overview: ReconArt is a web-based account reconciliation software that automates bank, credit card, balance sheet, and other reconciliations. 

Key features:

• Rule-driven matching capabilities.
• Includes balance sheet account certification, period-end tasks management, and variance analysis.
• Real-time dashboards for comprehensive reporting and analytics.
• Seamless integration with ERPs and internal systems.

Best for: ReconArt is best for organizations of various sizes and industries that require automated, high-volume, and complex financial reconciliation.

Pros: 

• Significant time savings through end-to-end automation of reconciliation processes. 
• Minimal coding requirements.

Rating: 3.3 on G2. 

Pricing: ReconArt offers two main editions in its pricing: Essentials (for small teams with up to 25 million transactions per year), Plus (for larger organizations with 50 million transactions per year). Pricing is based on user count, transaction volume, and selected modules. While the exact cost is not revealed on its website, third-party platforms estimate the starting price to be $1,500 per month. 

7. Sage Intacct

Overview: Sage Intacct is a cloud-based financial management and accounting software.  

Key features:

• Includes general ledger, accounts payable, accounts receivable, cash management, and order management.
• AI-powered automation that reduces manual entry errors.
• Multi-dimensional reports and dashboards with real-time financial data.
• Pre-built integrations with solutions like CRM, expense management, and budgeting and forecasting.

Best for: High-growth small and mid-sized companies that need an accounting and reconciliation solution and can overcome a steep learning curve. 

Pros: 

• Intelligent automation increases productivity. 
• Multi-currency support. 
• User-friendly and intuitive interface.  

Rating: 4.3 on G2. 

Pricing: Sage Intacct also offers custom pricing for which you’ll have to contact their sales team. Additionally, you can also take a free product tour​. 

8. OneStream

Overview: OneStream is a financial close platform that helps with financial consolidation, reporting, budgeting, planning, and data quality management. 

Key features:

• Automated transaction matching. 
• Single interface for financial consolidation, reporting, and reconciliation. 
• Built-in audit trails, approvals, and reconciliation alerts.
• Supports statutory financial reporting requirements. 

Best for: Large organizations and enterprises that need a comprehensive financial planning, consolidation, and performance management solution. 

Pros: 

• Scalable for large organizations. 
• Single unified platform that replaces multiple point solutions. 
• Extensive customization capabilities. 

Rating: 4.8 on Software Advice

Pricing: The pricing is not available on the platform’s website.  It is typically customized based on organization size, modules selected, deployment method, number of users, and implementation complexity.

9. HighRadius

Overview: HighRadius is a cloud-based financial reconciliation platform that leverages AI and ML to simplify complex reconciliation processes. 

Key features:

• AI-powered transaction matching. 
• Automated month-end close checklists and workflows.
• Centralized dashboards and progress tracking. 
• AI-driven anomaly detection.

Best for: Enterprise and mid-market companies processing high transaction volumes and needing to optimize cash flow while reducing manual intervention.

Pros: 

• Scalable and configurable to suit various enterprise sizes and industries.
• Audit-ready and customized workflows. 
• Real-time insight and actionability through intuitive dashboards.

Rating: 4.3 on G2.

Pricing: HighRadius provides a subscription-based pricing model and is based on several key factors, including the modules chosen, integration requirements, and the overall complexity of the operations. 

10. Numeric

Overview: Numeric is an AI-powered financial close platform that automates repetitive tasks within the accounting cycle, from journal entries to financial reporting. 

Key features:

• AI-powered reconciliation and matching.
• Real-time transaction monitoring. 
• Offers both standard financial reports and customizable reporting options.
• Streamlines task assignment and reminds team members of reconciliation deadlines.

Best for: Mid-sized to large enterprises seeking a highly automated, scalable account reconciliation solution that can be integrated deeply with ERPs.

Pros: 

• Easy to implement and use. 
• Deep ERP integration ensures data accuracy.
• Quick implementation without lengthy timelines.

Rating: 4.8 on G2. 

Pricing: Numeric offers three tiers: 

• Essentials, which starts at $30 per month per user, is for teams looking to organize their close process.
• Growth, with custom pricing, for teams on QuickBooks and Xero seeking automation
• Enterprise plan for teams on mature ERPs like NetSuite with custom pricing.

Each of these tiers offers different feature sets, with Essentials as the base plan and Enterprise including everything in Essentials and Growth, plus its own exclusive capabilities.

‍Wrapping Up

While Solvexia has established itself as a capable platform for reconciliation and data processing, the alternatives we've explored show that there's no one-size-fits-all solution for financial operations automation. Each platform brings some unique features to the table. 

Choosing the right finance automation platform ultimately depends on your business needs and requires careful consideration of several factors like your organization’s size and complexity of operations, budget constraints, implementation time, technical resources, and integration capabilities.  As you evaluate the Solvexia alternatives, make sure you request personalized demos and review current customer reviews for a comprehensive analysis.  

If you’re looking for a fast, cost-efficient, and reliable financial reconciliation platform with simple onboarding, an intuitive UI, and robust customization, then your search ends with Osfin. This low-code financial platform is purpose-built to handle large-volume transactions with unmatched speed and accuracy, while ensuring enterprise-grade security and traceability.

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FAQs

1. What does SolveXia do and why might someone look for an alternative?

SolveXia is an automation platform focusing on finance teams: data ingestion, transformation, reconciliations, reporting, analytics, and audit readiness. Someone may seek an alternative because of cost considerations, integration limitations with legacy systems, a preference for different deployment models, or feature-set differences.

2. What are some alternative platforms to SolveXia that I should consider?

Some of the best Solvexia alternatives include Osfin, Numeric, BlackLine, etc., which focus on finance process automation, reconciliation, reporting, and analytics. When you are comparing them, ensure they cover the specific capabilities you require.

3. What are common drawbacks or trade-offs when using SolveXia or its alternatives?

Some common trade-offs include:

• Learning curve: Even no-code solutions require configuration and process understanding.
• Integration effort: Connecting legacy systems may be complex.
• Unintuitive UI: An outdated interface that can be difficult to navigate. 

4. How do I know if an alternative is a good fit for my organization?

When you are choosing a platform, consider these criteria:

• Your transaction volume and scale.
• How well does it integrate with your current systems?
• How quickly can you onboard and adapt, and is the UI clean and intuitive?
• How much manual effort, error reduction, time savings the alternative can deliver?
• Is the support team responsive?