The verdict in three sentences
For an SME handling more than 2,000 bank transactions a month across several banks, manual reconciliation costs more every year than a complete automation project. A setup combining bank APIs (PSD2 or EBICS) with custom matching rules reconciles 80 to 90% of lines automatically for EUR 8,000 to 18,000 excl. VAT. The real gain shows in the calendar: the monthly close moves 4 to 5 days earlier and the CFO gets analysis time back.
Where the CFO's 3 days go every month
In an 80-employee SME working with 4 banks, reconciliation is rarely a simple tick-off exercise. Statements must be downloaded from each bank in different formats (CSV, PDF, MT940), imported into the accounting software, then truncated descriptions matched against customer invoices, supplier direct debits, bank fees and internal transfers between accounts. Bulk transfers paying 12 invoices in a single line are the most time-consuming.
| Monthly task | Typical volume | Manual time | Time after automation |
|---|---|---|---|
| Collecting statements (4 banks) | 4 to 8 files | 2 h | 0 h (daily API feed) |
| Matching customer receipts | 1,100 lines | 9 h | 1.5 h (exceptions) |
| Matching supplier payments | 900 lines | 6 h | 1 h |
| Fees, commissions, overdraft interest | 250 lines | 2 h | 0.2 h (fixed rules) |
| Internal transfers between accounts | 150 lines | 1.5 h | 0 h |
| Reviewing open items and follow-ups | 200 lines | 3.5 h | 2 h |
| Total | 2,600 lines | 24 h (3 days) | 4.7 h |
These 2026 orders of magnitude come from SME projects with 50 to 150 employees. What remains manual are the genuinely ambiguous cases: partial payments, early-payment discounts, missing customer references.
The three options and their real cost in 2026
Three approaches coexist on the French market. The reconciliation module built into the accounting software is cheap but hits its limits quickly when descriptions are poor. Specialised SaaS platforms offer good bank coverage, with a subscription that rises with volume. Custom development, plugged into the existing ERP, lets you code the company's own business rules (order references, project codes, factoring).
| Criterion | Native accounting module | Specialised SaaS | Custom (API + rules) |
|---|---|---|---|
| Setup | EUR 0 to 2,000 excl. VAT | EUR 2,000 to 6,000 excl. VAT | EUR 8,000 to 18,000 excl. VAT |
| Recurring cost | included or EUR 30/month | EUR 250 to 900/month | EUR 150 to 400/month (hosting, aggregator, maintenance) |
| Automatic match rate | 40 to 60% | 70 to 85% | 80 to 90% |
| Company-specific rules | Limited | Configurable | Unlimited |
| Connecting 4 banks | Often partial | Yes (aggregator) | Yes (PSD2 or EBICS) |
| Deployment time | 1 to 2 weeks | 3 to 4 weeks | 6 weeks |
| 3-year cost | EUR 1,000 to 3,000 | EUR 11,000 to 38,400 | EUR 13,400 to 32,400 |
Custom becomes relevant once volume exceeds 2,000 lines a month or when a SaaS cannot read your internal references. Below 800 lines, the native module is often enough.
What a 6-week project includes
The usual sequence: week 1, audit of flows and descriptions over 3 months of history; weeks 2 and 3, connecting the 4 banks through a PSD2-licensed aggregator or an EBICS T/TS contract, and normalising statements; weeks 3 to 5, writing the matching rules (exact amount, invoice reference, discount tolerance, grouped invoices) and an exception-handling interface; week 6, acceptance testing on a real month and go-live. Every automatic match is traceable for the statutory auditor.
Mini case study
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Claire, CFO of an 80-employee industrial SME in Lyon, spends 24 hours a month reconciling her 4 banks. Her fully loaded cost is estimated at EUR 75 per hour, i.e. EUR 1,800 a month and EUR 21,600 a year. After automation, 4.7 hours remain, i.e. EUR 353 a month. Annual gain: EUR 17,364. The custom project costs her EUR 13,000 excl. VAT, plus EUR 250 a month recurring (EUR 3,000 a year). Payback comes in just over 10 months, and the close moves from the 12th to the 7th of the following month, so management steers cash on fresh numbers.
FAQ
Are bank APIs available for every French bank?
Yes for payment accounts thanks to PSD2, through a licensed aggregator, for about EUR 1 to 3 per account per month. For large volumes or financing accounts, EBICS remains the standard, with a bank subscription of EUR 20 to 60 a month.
What automatic match rate is realistic?
Between 80 and 90% of lines after 2 months of fine-tuning. The remaining 10 to 20% are partial payments and descriptions without references, handled in an exception queue in 1 to 2 hours a month.
Do we need to change accounting software?
No in 90% of cases. The module connects to Sage, Cegid, Pennylane or Odoo by API or journal import, avoiding a migration costing EUR 20,000 or more.
Will the statutory auditor accept automatic matching?
Yes, if each match is logged with the rule applied, the date and the validating user. A complete audit trail is part of the standard scope at no extra cost.
What happens if a bank changes its format?
Maintenance covers these changes, typically 2 to 4 incidents a year fixed in under 48 hours. That is one reason to budget EUR 150 to 400 excl. VAT a month recurring.
Let's scope your project. Send us your number of banks, monthly transaction volume and accounting software: we will price a scope between EUR 8,000 and 18,000 excl. VAT with a 6-week plan. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
