Exploring KNIME: Unlocking the Power of Widgets and mastering Bank Reconciliation for Financial Performance

The KNIME for Finance roadshow will make its next stop in London on October 2, 2024, at the Grant Thornton office located at 30 Finsbury Square, London EC2A 1AG.

Event Agenda:

6:00 PM - 6:00 PM - Welcome
6:10 PM - 6:40 PM - Talk 1

Understanding Financial Performance: Mastering Bank Reconciliation with KNIME by Elisabeth Richter, Data Science Publisher at KNIME

Rule number one in accounting: Always be aware of your company’s financial performance. So, you basically want to understand precisely where your money is coming from and going to, and you need to make sure that the numbers in the respective records are correct and in agreement.
The process of comparing two sets of records is called Reconciliation and it is a common accounting procedure. This presentation focuses on one type of Reconciliation – Bank Reconciliation – which compares a company’s internally recorded transactions with the transactions recorded externally by the bank. You will learn:

• what bank reconciliation is and why it is important for businesses,
• how to create a bank reconciliation statement,
• how to semi-automate bank reconciliation with KNIME and how to transform it into a shareable Data App, and
• the advantages of using KNIME for financial tasks.

6:40 PM - 7:10 PM - Talk 2

Demystifying KNIME: The power of widgets by Bethany Duffy, Digital Audit Manager at Grant Thornton

It is common for users who are not comfortable with technology to be put off by the "scariness" of new software like KNIME. However, fear not, as widgets are here to save the day! In this presentation, you will discover how to use KNIME widgets within components to transform daunting tasks into user-friendly, app-like experiences, making unfamiliar processes more approachable.

7:10 PM - 7:40 PM - Talk 3

The Power of Loops by William A Blake, Digital Audit Manager at Grant Thornton

Repetitive tasks can burn time. KNIME can automate this repetition by allowing you to build the task once and choose which variables will change.

7:40 PM - 9:00 PM - Networking and Refreshments

9:00 PM - End

Meet the Speakers:

Elisabeth Richter is part of the Evangelism team at KNIME and works as a Data Scientist with a particular focus on the books published under the KNIME Press. Besides that, she engages with the KNIME community on social media and in presentations, workshops, and events both online and onsite. She holds a master’s degree in Social and Economic Data Science from the University of Konstanz, Germany.

Bethany Duffy joined Grant Thornton as an apprentice over 6 years ago in the Public Sector Audit department, where she qualified as a Chartered Accountant, before following her interest in digital to join the Digital Audit Team. Through utilizing her audit knowledge and interest in digital transformation, she now develops innovative and impactful KNIME workflows and audit applications, while supporting audit teams in leveraging the power of digital in audits.

William A Blake, Digital Audit Senior Manager at Grant Thornton