Transaction Matching – ReconNET

Transaction Reconciliation and Data Matching Software. Easily reconcile bank, cash, credit card, ACH, gift card, lockbox, payroll accounts and more.

Reconciliation of high-volume transactional accounts can be a tedious part of the Record-to-Report process, due to the large number of complex transactions.

In fact, operational/transaction-matching reconciliations typically represent less than 10% of the reconciliations that organizations manage, but represent 90% or more of the effort.

Additionally, in a manual environment, employees spend the majority of their time matching items that correspond exactly, leaving precious little time available for them to research the costly exceptions. This lag time can inadvertently expose the organization to losses and many other risks, as well as result in significant effort expended on mundane, non-value added reconciliation tasks, rather than focusing on exceptions and their root-cause analysis.

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Enter ReconNET, helping streamline transactional account reconciliations and data matching to eliminate risk. Resolving millions of accounts daily for many of the world’s largest corporations, it optimizes account reconciliations through purpose-built, best-in-class capabilities, including:

  • Automating daily data matching, exception management, and period-end balancing
  • Ensuring resolution of all exceptions in a timely manner
  • Reducing costs through productivity gains and fewer unexplained write-offs
  • Shortening end-of-month account reconciliation cycles from weeks to hours
  • Controlling data and manual manipulation with extensive audit trails and accounting undo features
  • Bank reconciliation, credit card reconciliation, gift card reconciliation, cash reconciliation and more, all from one place… ReconNET

How customers are using ReconNET to streamline their high-volume, transaction-intensive reconciliations: