Match-up

Match-up is an advanced tool for the analysis, reconciliation and matching of complex data.

Match-Up

Background

Activities associated with the manual reconciliation of accounting transactions (for example, those relating to retail takings) often require a considerable use of human resources. Companies are looking for solutions to improve the efficiency of the process by automating it as much as possible.

Envision a system that adapts to different application contexts and which:

  • Is “fed” from accounting systems and/or from bank statements;
  • Requires the upload of support files to facilitate/handle reconciliations;
  • Includes an application (dashboard) for monitoring the uploading of support files and accounting transactions;
  • Includes an “engine” for managing reconciliations;
  • Provides for the analysis of unreconciled residual transactions, presenting proposed new match-ups based on a data robot;
  • Includes an application for managing/viewing reconciliations;
  • Generates output that includes the codes of the reconciliations carried out, which can be used in the accounting system;
  • Includes an application (dashboard) for monitoring the “reconciliation status”;
  • Generates reports containing details and KPIs;
  • Includes an application for setting the configuration rules.

The Solution

Match-up is an advanced tool for the analysis, reconciliation and matching of complex data (single and/or multiple).

The use of this tool finds application in data-related processes which:

  • Necessitate manual or semi-automatic processes for their recognition and validation, repetitive in nature or characterised by low added value;
  • Involve high volumes;
  • Are available on the same system (in different accounts or modules) or on different systems, often not integrated;
  • May require an information enrichment obtained from different data sources (including unstructured data).

Focus On

Ease of use; Independence from platforms; Flexibility of the usage model (cloud-based or residing on the company’s servers); Information enrichment to support reconciliations; Alternative actions or proposals (reconciliation proposals or recommendations reports); Taxonomy of rules (simple, medium and complex) and data robotics.

Match-up is an advanced tool for the analysis, reconciliation and matching of complex data (single and/or multiple).


The current scenario - Critical aspects

The reconciliation process requires substantial human resources commitments in what can be a manual application of rules:

  • Simple rules, producing 1 to 1 match-ups between the accounting transactions;
  • Medium rules, producing simple 1 to N match-ups;
  • Complex rules, producing elaborate 1 to N and N to M match-ups;
  • Analysis of residual transactions, for example through queries to other systems.

Match-up as a solution

Match-up is the value added solution in terms of:

  • Ease of use;
  • Independence from platforms;
  • Flexibility of the usage model (cloud-based or residing on the company’s servers);
  • Information enrichment to support reconciliations;
  • Alternative actions or proposals (reconciliation proposals or recommendations reports);
  • Taxonomy of rules (simple, medium and complex) and data robotics.

The use cases developed

Match-up is an application designed to support reconciliation tasks. The reconciliation program can be run either in automatic or manual mode. This means that, if necessary, the user will have the option to manually import new transactions in the system and immediately request the generation of new proposals, without depending on the defined planning. Depending on whether they are simple or complex, the proposals may be validated or not confirmed by the user. The user can use the application to generate detailed reports and KPIs for monitoring reconciliations. Moreover, using the data robot, the user can launch an analysis of residual unreconciled transactions, in which proposed new match-ups will be processed.


The solution architecture

The architecture consists of the following technical components:

  • A web server for the user interface;
  • Connectors for importing data;
  • A rules engine and a data robot for managing residual transactions;
  • A reports generator;
  • A database for storing accounting transactions and any additional information required.


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