The verdict in three sentences
A finance director who spends 2 to 4 days a month reconciling three bank accounts pays dearly for a task that well-written rules handle at 85 to 95 % without intervention. A custom automation quoted by Kolonell between 3,810 and 6,100 EUR excl. VAT compares with a SaaS reconciliation tool at 100 to 400 EUR a month, and wins as soon as your flows have specifics (factoring, multiple receipts, matching by customer reference). Go-live takes 4 to 8 weeks, with a visible gain from the first month-end close.
Why manual reconciliation delays the close
In an 80-employee manufacturing or services SME, three bank accounts commonly generate 1,500 to 3,000 lines a month: customer transfers, SEPA direct debits, cards, bank fees, card terminal settlements. The accountant exports statements, compares them with the general ledger, matches line by line and isolates differences. Result: the monthly close slips to day 10 or 12, and the finance director presents figures that are already old.
Since PSD2, bank flows are available via API through a licensed aggregator, or in CAMT.053 format via host-to-host channels. The data is available every day. What is missing is the rules layer that links a 4,812.60 EUR transfer to customer invoice 2026-0418, even when the narrative is truncated.
Building blocks of effective automation
| Building block | How it works | Expected result (2026 order of magnitude) |
|---|---|---|
| PSD2 or host-to-host bank feeds | Daily retrieval of statements from the 3 banks | No manual exports, data at D+1 |
| Matching rules | Exact amount, invoice reference, customer IBAN, discount tolerance | 70 to 80 % of lines matched in month one |
| Learned rules | Recurring cases validated by the accountant are added | 85 to 95 % after 2 to 3 closes |
| Exception queue | Differences, grouped payments, unpaid items, unexpected fees | Only 5 to 15 % of lines handled by hand |
| Automatic entries | Bank fees, commissions, interest posted to the ledger | 1 to 2 hours saved a month |
| Accounting export | File or API to Sage, Xero, Business Central or your ERP | No re-keying |
| Faster close | Reconciled cash report available at D+2 | Monthly close brought forward by 5 to 8 days |
SaaS reconciliation tool or custom automation
| Criterion | SaaS reconciliation tool | Kolonell custom automation |
|---|---|---|
| Price | 100 to 400 EUR a month, i.e. 3,600 to 14,400 EUR over 3 years | 3,810 to 6,100 EUR excl. VAT, one-off (2.5 to 4 M FCFA) |
| Maintenance | Included | 35,000 to 75,000 FCFA a month, i.e. 50 to 110 EUR |
| Specific rules | Limited to vendor configuration | Written on your real cases (factoring, deposits, grouped payments) |
| ERP connection | Standard connectors | Direct connection to your ERP, even a legacy one |
| Target automatic rate | 70 to 90 % depending on flows | 85 to 95 % |
| Timeline | 1 to 3 weeks | 4 to 8 weeks |
| Rule ownership | With the vendor | With you |
If your flows are simple and your accounting software already connects to a SaaS, start with the SaaS. Custom is justified when more than 20 % of your lines remain manual despite the standard tool. The Kolonell price is the first tier of our custom application grid of 11/10/2026, not a market price.
Mini case study
Siobhan, finance director of an 80-employee manufacturer in Dublin, reconciles 3 accounts and about 2,200 lines a month. With her accountant, that is 3 days of work, 24 hours a month and 288 hours a year. At a loaded hourly cost of 55 EUR, the annual cost reaches 15,840 EUR.
Assumption: automation at 5,000 EUR excl. VAT plus 110 EUR monthly maintenance (1,320 EUR a year). With 90 % of lines processed automatically, about 3 hours of exceptions remain each month, a saving of 21 hours, i.e. 13,860 EUR a year. The project pays back in about 5 months, and the close moves from day 11 to day 4.
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FAQ
How much does bank reconciliation automation cost in 2026?
At Kolonell, 3,810 to 6,100 EUR excl. VAT depending on the number of banks, rules and connectors. Maintenance is 50 to 110 EUR a month.
What automatic match rate can we expect?
The target is 85 to 95 % after 2 to 3 closes, once the rules include your recurring cases. The first month often runs at 70 to 80 %.
Do we need to change accounting software?
No, the automation exports to Sage, Xero, Business Central or your ERP. The connector usually takes 3 to 5 days of development.
Is bank access secure?
Yes, the PSD2 connection goes through a licensed aggregator and does not store your credentials. Consent is renewed every 180 days under the regulation.
How long before the first gain?
Delivery takes 4 to 8 weeks, and the gain appears from the next close. An SME saves around 2 days a month in our calculation assumption.
Let's scope your project. Tell us your banks, line volume and accounting software: we quote an automation between 3,810 and 6,100 EUR excl. VAT delivered in 4 to 8 weeks, via our free quote form. 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.
