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reconciliation automation

How Reconciliation Automation Works

Your account team works hard tracking how your organization performs financially, but time-consuming manual reconciliation pulls them away from the critical aspects of their work, such as investigating discrepancies and balancing the numbers. Intelligent automation (IA) can streamline these business processes, improving your financial statements, speeding up the reconciliation process and limiting risks caused by human error. Get end-to-end visibility and control with your reconciliation processes through an intelligent digital workforce.

IA and RPA Solutions in Reconciliation

IA combines robotic process automation (RPA), business process management (BPM) and artificial intelligence (AI) to bring together critical financial information and help your account teams with better reporting and balancing. IA can perform account reconciliations, including accounts receivable and accounts payable, general ledger and sub-ledger data, bank statements and entry adjustments. Calculate and collate confidently with intelligent automation.

Manual processing
Better business decisions
The best of Intelligent Automation
reconciliation-automation - Document Manual Processing

Manual processing

If your account teams manually download, review and reconcile bank statements at the end of every month, that’s weeks of delay in receiving financial reports. Manual tasks like these are error-prone and eat up a lot of valuable time when your teams could be working on higher-value, strategic activities.

Automated Reconciliation Results


hours in annualized savings
across the business

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financial transactions

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3 million


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Automate Transactional and Account Reconciliation   

The Benefits of Automating Reconciliation

Multiple data sources

IA can pull data from various sources including Excel spreadsheets, accounts payable and receivable systems, purchase orders (POs) and bank statements in real-time to update the general ledger and balance sheets automatically.

Better accuracy

IA handles large volumes of transactions and manual tasks like data entry, helping reduce error and flagging discrepancies for human intervention. This results in a faster financial close process and augments your team, saving time for higher-value work.

Improves compliance

IA keeps audit trails of every transaction and step taken within a process, giving you full visibility into your workflows in real time. With automated compliance checks, you can adhere to regulatory requirements and internal control standards more easily.

Reduces costs

By streamlining processes and reducing the need for manual intervention, automation can save on labor costs as well as potential savings by avoiding errors and rework. IA validates financial information across multiple accounts to decrease the time to financial close.

Instant reporting

Automated bank reconciliation allows your account team to deliver timely and accurate financial statements to the relevant stakeholders – on demand. This improves visibility and frees your account team’s time for other high-value work.

System integration

IA seamlessly integrates with your existing ERP systems, including legacy systems, to provide a unified platform for managing financial data and streamlining end-to-end processes. This reduces the time spent logging into various accounts and applications.

Use Cases of IA in Reconciliation Processes

Logging and crunching numbers are only some of what intelligent automation can do in finance and accounting. IA simplifies and speeds up reconciliation while helping your finance and accounting teams focus on the open entries or exceptions requiring their attention. Help your teams be more productive and keep your financial reporting on track.

Transaction matching
Exception handling
General ledger reconciling

Transaction matching

IA can automatically match large volumes of transactions between different systems or accounts. This includes matching invoices to payments, bank statements to cash receipts, or purchase orders to supplier invoices. IA facilitates:

  • Data extraction and standardization, ensuring consistency and compatibility with various systems.
  • Transaction comparing based on criteria such as date, amount, reference number and account code.
  • Transaction matching with invoice numbers, purchase orders and so on.
  • Identifying unmatched or partially matched transactions and flagging them to the right team or department.

Hear From Our F&A Customers

Now we can run processes more consistently. Previously, there were times when we wouldn’t be able to run processes because our employees didn’t have the time.”

Ajay Gupta

RPA lead, DTE Energy

We see great potential for developing intelligent automation for, among other things, accounting flows with financial statements, budgeting and forecasting.”

Nina Mårvad

Head of operations support, Riksbyggen

I’ve often heard our executives say, “This is proven technology”. This has proven itself already, now it’s about kicking on and building more capability."

Alastair Robertson

Head of continuous improvement and automation, Zurich U.K.

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