Overview

Accurate Reconciliation is an end-to-end account reconciliation and certification solution designed to handle all transaction types and financial instruments. It integrates both transaction and balance-level data, automating the entire reconciliation process from data acquisition and matching through period-end approvals and reviews. This solution serves as a centralized hub that consolidates operations and powers breakthrough processing by pushing information across borders in real-time, enabling fast responses and informed decision-making. Overview: 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, making it nearly impossible to achieve the single version of the truth that finance and executive teams need. Accurate Reconciliation simplifies the onboarding of new reconciliations, accounts, and users through a single‑user interface for reconciliation administration, which reduces demands on technology resources.

Features

• Real-Time Reconciliation: Provides a centralized hub that consolidates operations, enabling fast response and informed decision-making.
• Effortless Data Collection: Imports data 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.
• Flexible and Powerful Matching: Employs a unique, multithreaded rules-based matching engine that automatically matches items based on specific business criteria, including one‑to‑one, one-to-many, and many-to-many items.
• Powerful Exception Management: Automates and controls the entire exceptions research and investigation process through an integrated case management solution.
• Reporting and Extensibility: Offers a comprehensive solution to view and certify reconciliation information across the enterprise, providing graphical, real-time information about the state of the reconciliation and transaction management process. It includes trending analysis and comparison of current state performance versus benchmarked standards.
• SWIFT Accreditation: The transaction matching, reconciliation, and exception management solution has been accredited with the 2023 SWIFT Certified Application for Reconciliation.

Benefits

• Fully automates the reconciliation process.
• Reduces the time to close, whether it be daily or period-end reconciliation activities.
• Integrates balance and transaction-level data.
• Eliminates manual interventions and provides rapid, cost-effective resolutions.
• Enforces enterprise governance and control.
• Enables enhanced audit and compliance procedures.
• Reduces financial and operational risks.
• Improves productivity and efficiency of the exception investigation processes.
• Shifts analysis to Day-1 tasks with real-time reporting capabilities.