Reconciliation is a complex and time-consuming financial process. However, reconciliation baked with AI, supported by advanced ML and rules-based engines, automatically matches transactions across internal systems and third-party records. This is a perceptible shift from manual checks, which reduce errors and flag discrepancies in real-time. Its core goals are to enable faster closings and ensure transparency and accuracy in financial reporting.
The client has a worldwide presence across diverse geographies, with each geography having its own currency and financial regulations. Their finance framework was managing thousands of transactions daily across vendors, customers, banks, and more. Reconciliation, therefore, was overwhelming, and finance teams were always working against time during audits.
99% accuracy in transaction matching, which improves financial reporting and drives confidence in stakeholders.
Enhanced data visibility and transparent reporting ensure the client meets regulations across geographies.
Finance teams can shift focus from manual tasks to strategic tasks, supporting business growth.
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