Transaction Matching

Reconciling transactions is one of the most time-consuming and manual parts of the financial close. With automation, you can quickly perform transaction matching and rapidly enhance the accuracy and regulatory compliance of all resulting financial statements.

Reduce Write-offs

Improve Data Quality

Enhance Visibility into Cash

Optimize Your Transaction Matching Process

With automation, matching transactions with bank statements, credit card statements, point of sale, merchant, 3rd party delivery services, and other external sources happens at a fraction of the time that manual processes take. This frees up time to spend on unmatched transactions exceptions – improving the accuracy and reliability of your close.

Minimal Focus on Exceptions

The biggest challenge to the accuracy of your reconciliations process is the sheer volume of data involved each month which can be coming from many different sources. With an automated solution you’ll have fewer transactions to investigate so you can focus on researching and documenting the exceptions and fix unresolved matches. This takes the pressure off your teams and reduces the risk of low matching rates or errors that could result in write-offs for your organization.

Manual Repetitive Tasks

Manually matching and reconciling transactions takes away from time that could be spent adding value to your organization. Once data from ERPs and other sources is compiled, automation works to standardize and enrich data as it loads; this process immediately results in strong auto-matching rates. Then, exceptions are automatically created for unmatched items, and quickly taken through a well-defined and configurable process for resolution by your team.

Lack of Confidence in Data Quality

A single slip of a finger can add or remove a number, throwing your figures completely off and even in the hands of a highly-trained expert, human errors occur. Replace the time-consuming, repetitive task of transaction matching by allowing an automated solution to read your data in its raw form and eliminate time spent cleaning up the information in your spreadsheets. This reduces the risk of data accidentally being lost during extraction and import and prevents errors during formatting.