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Aico description
Aico is a cloud-based software platform designed to automate and streamline the financial close process for large companies. It offers various tools to manage tasks, reconcile accounts, handle intercompany invoices, automate journal entries, and match transactions. Aico integrates with major ERP systems like SAP and Oracle, providing real-time data for faster closing and reduced errors. The company focuses on providing strong customer support and helping finance teams work more efficiently.
What companies are using Aico?
Who is Aico best for
Aico is a cloud-based platform ideal for large enterprises using ERP systems like SAP or Oracle. It automates financial close processes, offering real-time data integration and dashboards. Users praise its user-friendly interface, real-time ERP validation, and clear dashboards. However, some dislike the limited period management and extra cost for a test environment.
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Best fit for large enterprises (1000+ employees).
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No specific industry fit identified.
Aico features
| Supported Aico integrates with all ERP systems, including major ones like SAP and Oracle. |
| Supported Aico supports real-time data integration and updates for dashboards. |
| Supported Aico automates financial processes, including financial close and reporting, improving efficiency. |
Aico reviews
We've summarised 26 Aico reviews (Aico G2 reviews) and summarised the main points below.
- User-friendly interface and adaptable to process design requirements.
- Real-time validation with ERP master data and interconnected modules.
- Clear task status dashboards for users and process owners.
- Proactive system health checks and improvement suggestions.
- Billing is per entity rather than per user, offering cost-effectiveness.
- VAT netting journal entries cannot be posted and create validation errors.
- Limited period management, only periods 1-12 can be opened/closed.
- Test environment is at extra cost, most companies use a 3-tier system.
- Difficult transition from project mode to steady state support.
- Billing for support is not transparent within the platform and requires manual cross-checking.
Aico pricing
The commentary is based on 3 reviews from Aico G2 reviews.
Aico's per-entity billing model, rather than per-user, is appreciated by users. However, some find the support billing process lacks transparency, requiring manual cross-checking. A test environment also comes at an extra cost.
Users sentiment
Aico alternatives
WorkivaBetter for ESG reporting and GRC management. Broader industry applicability. Has more momentum in terms of employee growth. A Workiva alternative for companies prioritizing collaborative reporting.Read more
Oracle Financial Consolidation and CloseHas broader appeal for mid-size businesses. It has positive pricing sentiment and is growing faster. However, user reviews are slightly lower. An Oracle Financial Consolidation and Close alternative for those seeking ERP integrations.Read more
FloQastBetter for organizations with complex or non-standard reconciliations. Has broader industry applicability. Growing faster in terms of web traffic and employee count.Read more
Panaya Change IntelligenceBetter for managing software updates and changes within ERP systems. Focuses on risk reduction and automated testing for smoother upgrades and migrations.Read more
TaxDomeBetter for firms of all sizes seeking practice management tools. More focused on client interaction, workflow automation, and billing features. Has more momentum in employee growth. A TaxDome alternative for finance automation and ERP integrations.Read more
XelixMore focused on AP automation and fraud prevention. Has grown its employee base more rapidly. Caters to a similar customer base but also has a good fit for mid-sized businesses in finance and IT. Users highlight the excellent customer support and ease of use, but some find reporting customization limited and ERP integration less smooth. A strong Xelix alternative for financial close automation and ERP integration.Read more
Aico FAQ
What is Aico and what does Aico do?
Aico is a cloud-based platform automating financial close processes for large enterprises. It offers tools for task management, account reconciliation, and journal entry automation, integrating with ERP systems like SAP and Oracle for real-time data and faster closing. Aico helps finance teams improve efficiency and reduce errors.
How does Aico integrate with other tools?
Aico integrates with all ERP systems, including major platforms like SAP and Oracle. This integration provides real-time data, enabling faster closing processes and reducing errors. It streamlines financial processes for improved efficiency.
What the main competitors of Aico?
Top alternatives to Aico include FloQast, Cadency by Trintech, Oracle Financial Consolidation and Close, and Workiva. These competitors offer similar financial close automation and streamlining capabilities for large enterprises.
Is Aico legit?
Aico appears to be a legitimate software solution for enterprise financial close automation. User reviews highlight its user-friendly interface and real-time data capabilities. However, potential users should be aware of reported limitations regarding VAT entries and period management. Aico is safe for large enterprises, especially those already invested in ERP systems.
How much does Aico cost?
I cannot find pricing information for Aico. Contact the vendor directly to determine if Aico's product pricing and features are a worthwhile investment for your needs.
Is Aico customer service good?
Aico customers generally praise the user-friendly interface, real-time ERP integration, and helpful support team. However, some have noted a lack of transparency in support billing and a difficult transition from project to steady-state support. Overall, customer feedback suggests the support experience is positive, but there are areas for improvement.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.