About the Client
The client is a leading manufacturing company managing a high volume of transactions across different business units and subsidiaries.
They process thousands of transactions throughout different accounts including payable, receivable, general ledger, and fixed asset accounts.
Client’s Challenges
Despite using multiple ERP systems, the client’s reconciliation process was manual and inefficient, leading to:
- Lengthy Reconciliation Cycles: Each cycle took 15–20 days, delaying the financial closing.
- Delayed Issue Resolution: The finance team struggled to identify discrepancies on time, leading to delayed issue resolution.
- High Risk of Errors & Fraud: Manual data entry errors, transaction mismatches, and compliance violations were common.
- Increased Operational Costs: The finance team spent excessive time on error correction instead of strategic financial planning.
The AI-Powered Solution: Recogent by Growexx for Faster Reconciliation
Recogent seamlessly integrated with the client’s existing ERP financial modules (GL, AP, AR, Fixed Assets) and third-party systems to:
- Offer AI-driven recommendations to resolve unmatched transactions.
- Automate transaction matching across multiple records, reducing manual intervention.
- Provide actionable insights for immediate anomaly detection.
- Accelerate financial closing from 18 days to just 2 days, enabling finance teams to focus on high-value decision-making.
How We Implemented Recogent
We followed a step-by-step approach to ensure smooth integration and adoption of our AI-powered reconciliation solution:
- Integration with ERP & Third-Party Systems: Integrated Recogent with the client’s existing finance management systems and external data sources, such as supplier, customer, and asset audit data.
- Data Structuring & AI-Model Training: Structured and processed historical reconciliation data to train new AI models and get accurate results.
- Automation & Testing: Implemented AI-assisted matching, error detection, and reporting workflows.
- Customization & Dashboard Configuration: Created a custom dashboard to provide clear visibility into transaction discrepancies.
- Training & Adoption: Provided finance team with hands-on training on AI insights and workflow adjustments.
Why Recogent Was a Clear Choice
The client was using traditional reconciliation methods that were slow, error-prone, and lacked proactive anomaly detection.
These inefficiencies led to delays, compliance risks, and financial blind spots.
With AI-powered automation, they not only streamlined reconciliation but also improved reconciliation speed, compliance, and accuracy.
Here’s what made Recogent stand out:
- Seamless Integration: It integrated with the client’s existing ERP without disruptions.
- AI-Powered Accuracy: Our advanced LLMs analyzed reconciliation patterns, detected discrepancies, and provided intelligent recommendations instantly.
- Faster Financial Closing: It eliminated manual errors and significantly reduced their book-closing time.
Key Outcomes
Here’s how Recogent improved the client’s overall reconciliation process:
| Challenges |
Outcome |
| Manual reconciliation took 15-20 days |
AI-powered reconciliation took less than 2 days |
| High risk of errors & compliance issues |
99% accuracy with AI-driven transaction matching |
| Finance team burdened with repetitive tasks |
AI automation freed up resources for strategic initiatives |
| Limited and delayed visibility into
reconciliation issues |
Actionable insights for faster decision-making |
Technologies used
