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Match-up

Data reconciliation automation

Match-Up

WHY IMPLEMENT IT?

Match-up is a tool for analysing, reconciling and combining complex data (single and/or multiple), such as accounting transactions (e.g. those contained in the accounts impacted by transactions completed in shops), cash flows, inter-company transactions, the financial position, the invoicing of accounts receivable and payable, the net working capital and many other possible applications. In the case of accounting transactions, Match-up receives data from the accounting system and/or bank statements as input, and outputs the codes of the reconciliations carried out, which can be used in the accounting system, in addition to a report containing details and KPIs.

WHY IMPLEMENT IT?

Data reconciliation typically requires a huge commitment on the part of resources responsible for carrying out such activities because:
  • the process necessitates repetitive manual or semi-automatic activities with low added value,
  • the process entails high volumes,
  • the data to be reconciled is not always stored on the same system or on integrated systems
  • an information enrichment obtained from different data sources (including unstructured data) may be needed.

HOW DOES IT WORK?

To carry out reconciliation activities (either in automatic or manual mode) Match-up relies on different components: a web server on which the dashboard available to the user to monitor; activities or perform manual activities, has been developed; connectors for the automatic import of data from other systems or manually by the user; a reconciliation management engine, which uses more than 70 reconciliation rules and a machine learning algorithm; a data robot that suggests the possible reconciliations of the residuals; a KPI-based reporting generator and a database for storing the accounting transactions and additional information required for the processing.

HOW EFFECTIVE IS IT?

Match-up is an accelerator designed to ensure ease of use, the accuracy of results, scalability and the ability to adapt to different application contexts. The use cases carried out using Match-up made it possible to manage up to 50,000 transactions per month, of which 90% were managed without manual intervention, with an efficiency of up to 30% of the FTEs involved in the process.


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