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Automated Enterprise Account Reconciliation

  • Delivers a quantum uplift in process performance for account reconciliations​

  • Saves 85% of accountant’s time completing reconciliation process​

  • Saves 25% of personnel’s time spent on research and fixing breaks​

  • More than $20M risk eliminated for $1B turnover​

  • Go Live in less than 4 weeks​

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PROBLEM

  • The process is error prone and expensive​

  • Prone to manual errors and requires a large workforce​

  • Variances between parties and errors in Financial statements​

  • Large volumes and high cycle time. Lack of standardization​

  • Regulatory changes, changing reconciliations requirements and late error detection​

SOLUTION

  • Timely period closing of accounting books​

  • Redeploy workforce to other tasks​

  • Eliminate errors in the current process​

  • Increase compliance​

  • Reconciliation capability for intercompany; customer, vendor and bank statement; GL balance sheet; statement of accounts and fixed asset records​

TECHNOLOGY

  • Intelligent OCR/IMR proprietary technology​

  • Cognitive analysis of data​

  • Proprietary pre-build assets​

  • Intelligent Automation​a

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