The verdict in three sentences
Above 1,000 bank transactions a month, manual bank reconciliation becomes a visible cost line for the CFO. An automation costing EUR 4,000 to 12,000 excl. VAT, connected to banks through PSD2, matches 85 to 95% of lines on its own and leaves only real anomalies to the accounting team. The typical gain is 2 days a month, with 4 to 6 weeks to go live.
Where the 3 days a month go
In a trading SME, reconciliation mixes partial customer payments, batched transfers, bank fees, supplier direct debits and cheque deposits. The accountant exports statements, compares them to the general ledger, looks for matching invoices and chases sales reps for unidentified payments. The rules are repetitive: exactly what automation handles well.
| Transaction type | Share of volume | Automatic match rate |
|---|---|---|
| Customer receipts with invoice reference | 40% | 95 to 99% |
| Recurring supplier direct debits | 20% | 95 to 99% |
| Bank fees and commissions | 10% | 99% |
| Batched multi-invoice transfers | 15% | 70 to 85% |
| Partial or unreferenced payments | 10% | 50 to 70% |
| One-off transactions | 5% | Manual handling |
| Weighted average | 100% | 85 to 95% |
2026 tools and cost
There are three options. The accounting software's native module is enough for simple flows. A specialised platform brings finer rules. A custom automation makes sense when the ERP is specific or several sources must be crossed (customer portal, factoring, multiple banks).
| Option | Initial cost (excl. VAT) | Recurring cost | Best for |
|---|---|---|---|
| Native accounting software module | EUR 0 to 1,500 | Included or EUR 30 to 80 per month | Under 800 transactions a month |
| SaaS reconciliation platform | EUR 1,500 to 4,000 setup | EUR 150 to 600 per month | 800 to 5,000 transactions, standard ERP |
| Custom automation | EUR 4,000 to 12,000 | EUR 80 to 250 per month (PSD2 aggregator, hosting) | Specific ERP, multi-bank, business rules |
| PSD2 bank connection | Included | EUR 1 to 3 per account per month | All options |
| Rules maintenance | Included for 3 months | EUR 300 to 800 per quarter | Custom |
PSD2 lets you read statements directly through a licensed aggregator, with no manual export. Bank consent must be renewed every 180 days, which the tool handles with an alert.
The 4 to 6 week rollout
| Week | Step | Result |
|---|---|---|
| 1 | Analysis of 3 months of statements and ledger | Map of transaction types |
| 2 | PSD2 connection of accounts | Statements imported nightly |
| 3 | Matching rules (reference, amount, party, date) | 75 to 85% matched |
| 4 | Advanced rules (batched, partial, tolerances) | 85 to 95% matched |
| 5 and 6 | Parallel run over a full month, training | CFO sign-off |
Mini case study
Claire, CFO of a trading SME in Nantes, handles 2,500 transactions a month across 3 banks. Her accountant spends 3 days a month on them, at a loaded cost of EUR 420 per day. The custom automation costs EUR 8,500 excl. VAT plus EUR 180 per month. It matches 91% of lines, leaving 1 day of work a month. Gain: 2 x 420 x 12 = EUR 10,080 per year, minus EUR 2,160 of recurring cost, i.e. EUR 7,920 net. The project pays back in 13 months, and the monthly close moves 4 days earlier, giving reliable cash figures by the 5th of the month.
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FAQ
Do we need to change accounting software?
No, the automation plugs into the existing system through API or file import. Validated entries are sent back to the accounting software, avoiding any double entry.
Is the PSD2 connection secure?
Yes, it goes through an aggregator licensed by the French regulator (ACPR), read-only, without storing your banking credentials. Cost is EUR 1 to 3 per account per month.
What happens to the 5 to 15% left unmatched?
They show up in an exceptions queue with suggested candidate invoices. The accountant validates in one click, and each validation can create a new rule.
From what volume is it profitable?
As a 2026 order of magnitude, from 800 to 1,000 transactions a month, about 1.5 days of monthly work. Below that, the accounting software's native module is enough.
How long to reach 90%?
Most SMEs pass 85% by week 4 and reach 90 to 95% after 2 months of rule learning. One-off transactions stay manual.
Let's scope your project. Send us your monthly transaction volume, your banks and your accounting software: we will price the automation between EUR 4,000 and 12,000 excl. VAT, live in 4 to 6 weeks. 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.
