CASE STUDY

Boosting Accuracy and Efficiency with Recogent AI-Driven Reconciliation

Industry

Retail

Work Done

Reconciliation, AI ML Development, Oracle Services,

Summary

Growexx’s AI-driven reconciliation solution Recogent helped a global retail chain cut down its reconciliation time and achieve 99% accuracy.

About the Client

The client is a multi-national retail chain operating in a highly competitive consumer goods industry, with over 100 stores across multiple countries. The company handles thousands of supplier transactions each month across its subsidiaries.

Client’s Challenges

Despite having a strong finance workflow, the client faced significant challenges due to multi-vendor relationships, currency payments, and region-specific tax regulations.

These complexities, combined with manual reconciliation, led to:

Delayed Vendor Payments: Matching invoices with purchase orders and payments took weeks, slowing financial operations.
Cash Flow Disruption: Unmatched and duplicate invoices created discrepancies, affecting cash flow and financial forecasting.
Intercompany Transactions Complexity: Managing multiple subsidiaries globally led to numerous complex reconciliation inconsistencies.
Compliance Risks: Manual preparation of reconciliation reports for compliance was error-prone and time-intensive.
Supplier Disputes: Delayed payments led to strained relationships with suppliers and resulted in penalty charges.

Enter Recogent: The AI-Driven Solution for Efficient Reconciliation

To address the client’s challenges, we integrated Recogent, a customized AI-powered reconciliation solution to:

Accelerate Vendor Payments: Automated invoice matching against purchase orders and payments, ensuring 99% accuracy and eliminating mismatches.
Enhance Cash Flow: Identified and resolved duplicate and unmatched invoices in real time, preventing cash flow disruptions.
Streamline Intercompany Reconciliation: Automated intercompany transaction matching, resolving discrepancies across subsidiaries, currencies, and tax structures.
Enable Compliance-Driven Process: Ensured accurate reconciliation reporting, reducing manual effort and minimizing compliance risks.
Reduce Supplier Disputes: Proactively resolved missing payments and discrepancies, ensuring timely payments and maintaining strong supplier relationships.

How We Implemented Recogent

The implementation of Recogent AI-powered AP reconciliation followed five key steps:

Step 1: Integration and Data Collection with AI: Recogent was integrated with the client’s Oracle ERP system and its AI capabilities quickly collected supplier invoices, payments, and purchase orders.

Step 2: Data Structuring & AI-Model Training: Advanced LLMs cleaned, structured, and formatted transaction data while eliminating duplicates.

Step 3: Pattern Matching & Anomaly Detection: Recogent’s AI models matched invoices, payments, and purchase orders to detect anomalies in real time for immediate resolution.

Step 4: Intelligent Categorization: It automatically categorized unmatched transactions (e.g., missing invoices, overpayments). This minimized the manual reconciliation workload and accelerated the resolution process.

Step 5: Compliance & Reporting: Recogent delivered actionable insights via interactive dashboards, giving the finance team full visibility into reconciliation progress.

Why Recogent Stood Out

Recogent stood out because it combined automation, artificial intelligence, and personalization in one single solution.

Here’s what made it the preferred choice:

Seamless ERP Integration: Unlike other solutions that require complex system overhauls, Recogent integrated effortlessly with the client’s existing Oracle ERP, ensuring a smooth transition without disrupting operations.
AI-Powered Intelligence: Recogent’s ability to learn from historical transactions, detect patterns, and suggest resolutions for unmatched invoices without human intervention made a big difference.
Real-Time Anomaly Detection: Unlike the traditional reconciliation process, Recogent flagged discrepancies instantly, preventing financial blind spots before they turned into bigger issues.

The client recognized that Recogent wasn’t just a faster way to reconcile—it’s a smart, future-proof solution that can evolve with their growing business.

How Recogent Impacted Client’s Business

Achieved 99% accuracy in invoice matching.
Eliminated duplicate invoices and tax mismatches.
Reduced AP closing time from 15-20 days to less than 2 days.
Improved vendor relationships by ensuring on-time payments.
Freed finance teams from manual reconciliation, allowing them to focus on strategic initiatives