Reconciliations solutions automate and standardised processing to enhance match rates and operational insight. They incorporate comprehensive exception management, essential for the identification, prioritization, allocation and audit of issues identified by reconciliations.
Our technology can be flexibly deployed and consumed through the cloud, as microservices, on-premise or via managed services. Integrated AI and machine learning capabilities empower business users, providing powerful analytical tools while reducing reliance on busy IT support teams.
What is Reconciliation?
Reconciliation refers to the process of comparing and adjusting financial records to ensure accuracy, consistency, and agreement between different sets of financial information. This can involve matching transactions, balances, or statements to identify and rectify any discrepancies. Reconciliation is commonly performed in various financial contexts, such as bank statements reconciliation, account reconciliation, or general ledger reconciliation. The goal is to ensure that the financial data in different systems or documents align, providing a clear and accurate representation of an organization’s financial position.