Nominal
Revolutionize finance with AI-driven automation and data insights.
Key Takeaways
- What it is
- Revolutionize finance with AI-driven automation and data insights.
- Pricing
- Freemium · $499 per month
- Best for
- Financial Consolidation
- Generative Workflows
- Close Management
- Rating
- 4.5/5
What is Nominal?
Nominal is revolutionizing the field of financial management through its cutting-edge AI automation platform. Designed specifically for finance professionals, it simplifies complex processes like multi-entity financial consolidation, accounting automation, and revenue recognition. By harnessing the power of generative AI, Nominal transforms traditional financial tasks into streamlined, efficient workflows. This tool is a game-changer for anyone looking to enhance accuracy, reduce manual effort, and gain strategic insights from financial data.
Nominal stands out with its generative accounting features, a game-changer for automating complex accounting tasks. Its ability to transform business logic into precise operational workflows without extensive IT involvement sets it apart from traditional financial software.
Nominal excels in providing robust financial management solutions, making it an essential tool for finance teams across various industries. Its generative accounting capabilities, in particular, offer an unmatched advantage in automating and streamlining complex financial tasks. Whether you're looking to enhance financial clarity, ensure compliance, or accelerate financial processes, Nominal provides the tools and features necessary to achieve these goals efficiently and effectively.
Who is Using Nominal?
Growth Companies
Transform fragmented financials into data-driven insights.
Renewable Energy Companies
Gain financial clarity to use as a strategic advantage.
Private Equity Firms
Streamline operations for modern finance teams.
Accounting Departments
Leverage robust automation for everyday financial tasks.
Uncommon Use Cases
Utilized by non-profits for managing grants and donations; adopted by educational institutions for financial oversight.
Key Features
Rating Breakdown
Pricing Plans
Free Tier
Free
- Experience Nominal with a 30-day free trial
Pro Tier
$499 per month
Nominal Use Cases
Multi-entity consolidation
Combine financial data across entities, currencies, and ERP systems into consolidated reporting.
Outcome: Faster, more traceable consolidated financials.
Continuous reconciliation
Match transactions and balances continuously across ERP, bank, and subledger data.
Outcome: Fewer manual reconciliation tasks at month-end.
Intercompany management
Detect, match, resolve, and eliminate intercompany balances across entities.
Outcome: Cleaner intercompany balances and reduced close effort.
Variance and flux analysis
Monitor account movements, identify anomalies, and generate explanations for financial variances.
Outcome: Earlier visibility into issues and faster investigation.
Close management
Coordinate close tasks, approvals, exception handling, and audit-trail activity in a unified workspace.
Outcome: A more controlled and auditable close process.
Workflow Ideas with Nominal
Continuous bank reconciliation
- 1Connect bank and ERP transaction data
- 2Match transactions and surface exceptions
- 3Review and approve proposed resolutions
Intercompany close workflow
- 1Pull intercompany transactions from connected systems
- 2Match balances and identify discrepancies
- 3Approve or post elimination entries with an audit trail
Multi-entity consolidation
- 1Sync entity-level ledger data
- 2Map accounts, entities, and currencies into a unified structure
- 3Generate consolidated reports and drill into source transactions
How Nominal fits into your stack
ERP Systems Integration
Seamlessly works with major ERP platforms, enhancing data consistency across systems.
CRM Integration
Integrates effortlessly with CRM systems to align sales and finance data.
Custom API Access
Offers developers API access to create tailored integrations.
Cloud Compatibility
Fully compatible with major cloud services, ensuring flexible deployment options.
Pros
- +Efficiency Gains: Dramatically reduces the time required for financial reporting and consolidation.
- +Error Reduction: Minimizes human errors through automated workflows and AI-driven checks.
- +Scalability: Easily scales to meet the needs of growing businesses, handling increased demands without additional resources.
- +Compliance and Security: Ensures compliance with financial regulations and standards, backed by robust security protocols.
Cons
- −Initial Learning Curve: New users may require time to fully grasp the capabilities and setup of the platform.
- −Dependency on Digital Infrastructure: Relies heavily on existing digital systems being up to standard for seamless integration.
- −Cost Implications for Smaller Entities: May be cost-prohibitive for smaller companies or startups.
Limitations & when to consider alternatives
Known limitations
- No public pricing. Prospective customers are directed to book a demo instead of selecting a published self-service plan.
- ERP-connected deployment. Nominal is designed to work with existing ERP, ledger, bank, and operational systems, so setup depends on connecting and mapping those sources.
- Human review remains part of the process. Exceptions, approvals, and lower-confidence actions are routed to finance personnel for review.
Look elsewhere when
- You need a self-service product with transparent public pricing.
- You need a native mobile app or browser extension.
- You need a general-purpose AI tool for image analysis or code generation.
How to Use Nominal
- 1
Explore the comprehensive tutorial series on the Nominal website, covering everything from basic setup to advanced features.
Who is Nominal For?
CFOs
Nominal helps CFOs improve close speed, reporting visibility, and accounting capacity across complex organizations.
Controllers
Controllers can automate reconciliation, consolidation, exception management, and close oversight while retaining approval control.
Accounting teams
Accounting teams use Nominal to reduce spreadsheet-based manual work and manage recurring close workflows.
Finance transformation leaders
Finance transformation leaders can add automation on top of existing ERP systems without a disruptive migration.
Frequently Asked Questions
What does Nominal automate?
Nominal automates accounting workflows including reconciliation, transaction matching, intercompany management, consolidation, variance analysis, reporting, and close coordination.
Does Nominal replace an ERP?
No. Nominal is designed to overlay existing ERP systems and add an execution layer without requiring ERP replacement or major process changes.
Which accounting systems does Nominal support?
Nominal lists support for systems including QuickBooks, NetSuite, Xero, SAP, Sage, Oracle, and other ERP or financial data sources.
How does Nominal handle human oversight?
Nominal routes exceptions and approvals to finance teams, maintains audit trails, and keeps humans in control of agent actions.
Does Nominal offer public pricing?
Nominal’s site directs prospective customers to book a demo and does not publish public plan pricing.
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