Case Study: Nivoda accelerates month-end close and automates reconciliations with Stacks

How Nivoda Fixed Month-End at Scale

Nivoda, a global diamond, gems, and jewellery trader, faced significant challenges as its growth outpaced its manual finance processes. With complex multi-currency activity across 13 entities and over 130 bank accounts, their month-end close was unpredictable and regularly extended beyond 20 days, creating bottlenecks and audit delays. To address this, they implemented the close and reconciliation platform from Stacks.

By adopting Stacks, Nivoda automated its bank reconciliations and utilized the Excel Assistant for journal entries. This solution provided real-time visibility into the close process and drastically reduced manual effort. As a result, Stacks helped Nivoda reduce its book closing time by 8 days and cut journal posting time from 8 hours to just 15 minutes, achieving a faster, more controlled, and audit-ready month-end close.

Nivoda

JP Smit

Global Head Accounting & FinOps