Cleo, a dynamic personal finance assistant platform, has revolutionized how millions of users manage their money. Leveraging Stacks, an AI-native accounting platform, Cleo’s finance team has made significant strides improving their critical workflows. The team already published the Management Accounts quicker than comparable sized companies on average, but they want to continue to drive forward with further efficiencies.  

Transforming the Journal Entry and Reporting Process

Prior to Stacks implementation, Cleo’s finance team faced limitations with their Xero accounting software, which included the inability to bulk upload journal entries or quickly produce key financial reports. This often resulted in less efficient processes such as manually copying journal entry information into Xero’s UI, a repetitive and time-consuming task.

By adopting Stacks’ Journal Entry Assistant, Cleo has achieved:

• 80% Faster Journal Entry Processing: Reducing manual input has saved 4 hours each month during the close process.

• Enhanced Financial Reporting: Using Synched Sheets, Cleo can refresh key financial reports in seconds, efficiently pulling data directly from Xero into Excel.

• Streamlined Control Sheets: Preparing monthly control sheets for reconciliations is now significantly faster and more reliable.

Proactive Adoption for Future Growth

Unlike many finance teams that adopt solutions to solve urgent pain points, Cleo’s Head of Finance, Andy M., and his team embraced Stacks proactively to future-proof their accounting function. By moving away from Google Sheets, which lacks formal preparer-review workflows and easy visibility into close status, Cleo is positioning its finance operations to scale seamlessly alongside the business.

Plans for 2025 include:

• Moving close management and GL reconciliation preparation fully onto the Stacks platform for a centralized and more efficient process. 

• Using Stacks’ AI-powered transaction matching to automate reconciliation preparation, enabling faster, more accurate processing.

• Introducing segregation of duties for key workflows, ensuring better control and compliance across all accounting functions.

• Further collaboration with the Stacks team to expand use cases and tailor solutions to Cleo’s revenue close process. 

Andy M., Head of Finance, shares,

“With Stacks, we’re saving a noticeable amount of time on the financial close, and as a result we can produce the management accounts faster each month. The proactive support from the Stacks team from implementation to regular communication has been a key enabler, and we’re excited to see how the partnership evolves.”

Key Results So Far:

• Faster journal entry processing, saving significant and critical hours during each month-end close with the Stacks Journal Entry Assistant.

• Seamless financial reporting and reconciliation through Synched Sheets function.

• A scalable, future-proof finance operation ready to handle growth!