Automate Reconciliation Processes with ReconArt
Scalable Account Reconciliation Software for high transaction volumes, diverse financial structures, or complex regulatory requirements.
Integrate multiple reconciliation tasks into a single platform
ReconArt covers all stages of the reconciliation lifecycle, from data import, to reporting and analytics.
Automate
Streamline Transaction Matching and Account Reconciliation
Automates high-volume matching for bank statements, credit cards, payables, and receivables.
Supports multi-stepped matching for complex reconciliation scenarios like 3-way matching for payment gateways and card statements.
Reduces manual effort, increases matching accuracy, and streamlines reconciliation processes.
Resolve
Exception Management and Real-Time Reporting
Automatically classifies discrepancies for faster resolution.
Provides real-time progress tracking with reporting and visualization tools.
Enhances investigation and resolution of exceptions, ensuring discrepancies are assigned, grouped in cases or posted to the general ledger (GL).
Offers instant visibility into errors, improving operational transparency and control.
Control
Workflow Automation and Compliance Management
Automates workflows and task management for month-end reconciliations, period close checklists, and variance analysis.
Supports seamless integration with multiple general ledgers, sub-ledgers, and external data sources for centralized management.
Ensures standardized, audit-proof processes and compliance with financial regulations.
Maintains a controlled and audit-proof journal entry posting process to enhance operational efficiency.
ReconArt's versatility and ability to cater to the specific needs of various industries, enhancing operational efficiency and financial accuracy.
Banking and Financial Services
Complex Transaction Matching
- including high-volume transactions and journal entries, as seen in cases like Banco Unico (now Nedbank Mozambique) and First National Bankers Bank.
Automated Bank Reconciliation
- to streamline exceptions management and improve operational efficiency, as seen in cases like Progressive Credit Kenya and Premier Credit
Compliance Management
- Ensures compliance with regulatory standards (e.g., custodian compliance for Harmoney) for financial institutions and investment
Insurance
Premiums & Claims
- Matches premiums collected and claims paid for financial accuracy.
Reserves & Liabilities
- Reconciles reserves to ensure financial health and solvency.
Commission & Brokerage
- Tracks commission payments to agents and brokers. (e.g.Fiesta Auto Insurance)
Payments & Money Remittance
Bank Reconciliation and AP Reconciliation
- Streamlines cash, payables, and correspondent bank statement reconciliations, as well as journal entry posting for TransferGo.
Complex Transaction Matching and Exception Resolution
- Rule-driven automation of multi-step reconciliations, grouped transaction matching, tracking FX rates and service fees.
Enterprise-wide reconciliations
- Transaction matching, period-end account certification, journal entry control, managing data from multiple data sources for WorldRemit.
Travel & Tourism
Employee Expenses & Corporate Credit Card Reconciliation
- Unified practices for reporting on multiple corporate entities, data enrichment capabilities like automated currency conversions, and timely identification of discrepancies (delivered for a global technology provider).
Invoice Reconciliation & Efficient Vendor Management
- Reconciles reserves to ensure Providing robust technology to handle industry specific complexities: multiple file formats supported, flexible matching rules, smart exceptions categorization for Holiday Extras. health and solvency.
International Trade & Logistics
Multi-Currency Reconciliation
- Automates multi-currency bank reconciliations for international trade and logistics companies (e.g 1-800-PACK-RAT), supporting global operations.
Complex Transaction Matching
- Supports cross-border transaction matching and integration across customs regulations, currencies, and shipping documentation for global trade operations.
What sets ReconArt apart
Unparalleled focus on enterprise-grade security, scalability, and operational efficiency.
Advanced Matching Engine
Configurable solution that supports high-volume, one-to-one, one-to-many, and many-to-many matching.
End-to-end Automation
Fully automates reconciliation from data import, matching, to reporting and exception handling.
Data Integration
ETL capabilities integrate seamlessly with ERP, accounting systems, and financial platforms.
Exception Management
Automatically flags discrepancies with detailed audit trails, enhanced collaboration, and real-time reporting.
Flexibility and Scalability
Supports custom workflows and scales for businesses of all sizes and complexities.
Web-Based Accessibility
Accessible via cloud or on-premise deployment for secure access of remote or international teams, and cost optimization.
Taiwan's Premier Alteryx Training Partner
Automate Reconciliation Processes
Scalable Account Reconciliation Software for high transaction volumes, diverse financial structures, or complex regulatory requirements.
