Reconciliation

Many organizations rely on multiple systems to access the data required for monthly and quarterly accounting reconciliation and daily transactional matching. Some use a manual reconciliation process that relies on error-prone spreadsheets. Exceptions are slow to resolve and it’s nearly impossible to achieve the single version of the truth that finance and executive teams need.

Accurate Reconciliation is an end-to-end account reconciliation and certification solution that handles all transaction types and financial instruments. The solution integrates both transaction and balance-level data and automates the entire reconciliation process from data acquisition and matching through period-end approvals and reviews.

Fully Automate the Reconciliation Process

Reduce the time to close, whether it be daily or period-end reconciliation activities.

Integrate Balance and Transaction-Level Data

Eliminate manual interventions and provide rapid, cost-effective resolutions.

Enforce Enterprise Governance and Control

Enforce controls as well as enable enhanced audit and compliance procedures.

Real-Time Reconciliation

Accurate Reconciliation operates as a centralized hub that consolidates operations and powers breakthrough processing. This single, standardized architecture pushes information across borders in real‑time, enabling fast response and informed decision‑making. Using a web interface, personnel across the enterprise receive an elevated view of information and process workflow – and benefit from best-in-class capabilities for matching, exception management and resolution, risk management, and reporting. Speed and convenience are only half the story, though.

Accurate Reconciliation also helps reduce financial and operational risks and seize intra-day investment opportunities.

Effortless Data Collection

Data can be imported in any format from internal sources such as a general ledger or accounts payable systems, or externally from a bank, message network, or other data sources. Operational users do not need to know the bits and bytes of data transfers. Instead, they need to know where every transaction stands on the path to settlement. Accurate Reconciliation cuts through the data complexity to deliver the needed information – clearly and quickly.

Accurate Reconciliation reduces demands on technology resources by simplifying the onboarding of new reconciliations, accounts, and users through a single‑user interface for reconciliation administration.

Flexible and Powerful Matching

Once positions, transactions, and balances are imported the solution’s unique, multithreaded rules-based matching engine goes to work, automatically matching as many items as possible based on the business’ specific criteria – including one‑to‑one, one-to-many, and many-to-many items. Matching criteria can be based on any type of item or attribute in the system.

This flexibility allows organizations to tailor-match criteria to meet the unique characteristics of each transaction type, producing a higher auto‑matching rate.

Powerful Exception Management

Accurate Reconciliation: Workflow automates and controls the entire exceptions research and investigation process. Workflow functions as an integrated case management solution to enable organizations to automate and control business processes by defining rules that perform a series of tasks and resolving the exceptions generated in the reconciliation process.

This will enable already overstretched back-office teams to meet customer demand and better deal with rising transaction volumes by dramatically improving the productivity and efficiency of the exception investigation processes.

Reporting and Extensibility

Accurate Reconciliation provides a comprehensive solution to view and certify reconciliation information across the enterprise. The solution provides graphical, real-time information about the state of the reconciliation and transaction management process, trending analysis, and comparison of current state performance versus benchmarked standards. Real-time reporting capabilities remove manual reporting efforts and allow organizations to shift analysis to Day-1 tasks.

The solution also provides powerful extensibility through its in-build scripting language without the need to consider source code changes.