RECONCILIATION AUTOMATION SOLUTION
- Industries: Finance & Accounting, Insurance, Hospitality, Food, Retail
- Supported Software: Any cloud-based or desktop application (ERP, CRM, HRM, EHR, EMR, WMS etc.)
- Reconciliation tools: Data Matching, Data verification, Integration, Reporting
- Any digital documents: Scan, Fax, Email, PDF, Spreadsheets etc.
How It Works
Your Accounts Receivable (AR) and Accounts Payable (AP) departments shall gain a tremendous increase in efficiency.
The process flow of AR departments starts begins with order processing and fulfillment. Capturing and validating the order information is performed automatically. At the delivery stage, the data is sent to ERP for review and handling. Then, this data complies with the databases automatically. With the new billing process, you can collate all relevant documents into a single view and distribute bills with accurate data and status of the account. Operation with invoices gets only easier when you can track open invoices, run aging reports and view for correspondence and notes in a single window. Finally, the system captures remittance and check data.
After an AP review, which implies capturing and validating an invoice, GL coding and checking for duplicated invoices, the data is transferred to the ERP system and from there, begins AP posting. At this stage, an employee verifies readiness and manages exceptions. The exception management implies PO discrepancies and freight corrections. All the data is integrated with ERP system. You can manage approvals receiving smartphone or e-mail notifications.
You can even increase accuracy eliminating manual processes that are the main cause of reporting errors.
You can dramatically reduce financial close time by 2-4 days.
Why Use Reconciliation?
- 1. It works in a cloud environment, enables a thorough supervision of each account for accuracy by means of automatic verification of the data compliance with the source system.
- 2. It is an out-of-the-box ultimate reconciliation solution for the growing complexity of matching data from the credit card transactions.
- 3. Save time while checking the compliance of bank statements and sub-ledge.
- 4. Increases data accuracy of all electronic payments
- Reconciliation Automation
- Bank Reconciliation
- Credit Card Reconciliation
- Wires & ACH Reconciliation
- Credit Card Reconciliation
- Accounts Receivable
- Order-to-Cash
- Accounts Payable
Benefits of RPA
Another benefit of operating with RPA is that it doesn’t interfere with your already established systems or processes. It works independently from application program interfaces (API), coding is not required and the RPA system can be installed in a couple of days instead of months. It is designed to work as an integration layer between the APIs, software interfaces and web-services which makes the data to be transferred smoothly and without corruption.
As was mentioned, RPA robots need no vacation, day-offs, salary increases and never start arguing. They are just there, securing the flawless performance of your company 24/7. Not only are they reliable, their operational costs are threefold lower than a full-time equivalent. Topping it up with a deliberately developed A.I. that optimizes robots’ performance on-the-fly. Needless to say that such solution excludes the possibility of data leaks.
Reasons to work via the RPA
Labor cost reduction, reliability, and flexibility, sustainable throughput, superior design, increased operation life are only several reasons to work via the RPA.
- Reconciliation Automation
- Bank Reconciliation
- Credit Card Reconciliation
- Wires & ACH Reconciliation
- Credit Card Reconciliation
- Accounts Receivable
- Order-to-Cash
- Accounts Payable