Challenge

JK Closing Attorneys is a law firm in Southern Florida that manages over 100 real estate closings per month. Reconciling their accounts was previously timely and expensive. Their banking, supporting technology, and reconciliation service provider were not operating efficiently together. This required JK Closing to spend hours over the course of any given week answering unnecessary phone calls and sending emails at the end of every month to reconcile their accounts.

Reconciliation took a very long time. [Our previous reconciliation provider] would send information back and forth with us for about a week until the whole thing was reconciled. We’d have to keep going back into the file, fixing things, looking for things. They would take our bank account statement, cross things off, and send it back to us in a scan...It was archaic.

Charles Esposito, JK Closing Managing Attorney

Solution

As they scaled, JK Closing needed more efficiency and a way to manage their operational costs. They discovered Qualia’s Reconciliation Service could seamlessly connect their banking, their accounting tools, and a live dedicated reconciliation specialist together so they decided to make the switch.

Results

With the full suite of Qualia’s Reconciliation Services, JK Closing now reconciles in minutes rather than hours and saves thousands of dollars a month.By setting up their accounts with a participating partner bank, JK Closing has a seamless reconciliation experience. Working with their own dedicated Qualia Reconciliation Specialist, JK Closings’ exceptions are cleared and reconciliations are completed daily, improving their overall efficiency.

The efficiency is great. It’s better than other reconciliation services because it’s daily. We’re processing all of our files in Qualia, so it makes sense for Qualia to do the reconciliation because it’s all integrated. Rather than having a third party look at Qualia’s system, Qualia knows their system - so it’s very efficient. Everything is seamless, and it just goes a lot faster than other reconciliation services we’ve had.

Charles Esposito, JK Closing Managing Attorney

JK Closing Attorneys attributes saving $17,000 annually to Qualia’s Reconciliation Service with a bank partnership.

It’s really a no brainer. The interest in our bank account pays for the reconciliation service, so right then and there that saves me thousands of dollars. I know the bottom line is important to every company. That’s the biggest thing that makes a difference.

Charles Esposito, JK Closing Managing Attorney