Transaction matching is the process of collecting and matching large volumes of transactions (from two or more sources), identifying and resolving differences in order to accurately finalize period-end balances and close the books. As such, the efficiency of this process has direct implication on speed, accuracy and confidence in financial statements. Common examples of transaction matching use cases include tasks like matching Bank Statements to General Ledger Cash Accounts or Matching Intercompany Transactions at the Invoice/Transaction Level.
Due to the volume of transactions that must be matched and reconciled, transaction matching can be especially challenging for organizations that rely on Microsoft Excel and manual work to manage the process.
We provide solutions that are able to get transaction data from multiple sources, automate the matching of large volumes of transactions, then identify un-matched transactions for prioritized resolution. Matching criteria would be defined and established as a rules-driven preset process, run as a part of the Close or even before.
We leverage both our functional expertise and methodology and Transaction matching solution from OneStream and tailor it to your specific needs and DNA.
allowing to feed and transform transactional data from different sources and match them in unified format
providing high flexibility of matching criteria incl. transaction type, attributes, currencies or Group accounts
setting custom systematic matching rules triggering the reconciliation process and matching
providing comfort to your users to understand the data flow and integrity faster
giving you a flexibility to organize your workload fitting to your organizational strategy
removing the need to fragment your processes and streamlining the entire Close rapidly
Our ultimate goal is to help your people to reduce manual repetitive high volume activities and allow their shift towards more valuable activities. Ultimately, you will be able to accelerate the close, motivate your people and reduce write-offs of unexplained differences in your books.
Yes. It can be implemented as a single standalone solution, however, in most of the cases, the solution is being deployed as a part of broader Close & Consolidation project as we believe that true value added comes with unifying the Close process and not fragmenting it from process and technology point of view into different components.