Ensure accuracy and efficiency by automating Account Reconciliation
Improve efficiency and accuracy around your account reconciliation process by leveraging automation down to a transaction level.
Comprehensively remove risk, and increase accuracy and efficiency by effectively managing your global Account Reconciliation process and leveraging automation.
With ever-stringent regulations and finance being under pressure to deliver more with less, you need to make sure that you are as efficient as possible in finance processes without compromising on confidence and integrity. Leverage reconciliation best practices and improve the efficiency of performance using transaction matching and other automated reconciliation functions. Integrate data directly from ERP, EPM, and other source systems to ensure all accounts are included.
Reconciliation compliance
Keep track of the account reconciliation process including monitoring, reporting, and analysis. Collaborate across distributed organisations and ensure the capture of all audit documentation.
- Compliance Driven
Create rule-based thresholds for automated risk assessments and certifications - Accountability
Track and log the preparer and approver assignments for each reconciliation - Approvals and Signoff
Get instant visibility into the progress and status of the entire reconciliation lifecycle
Transaction matching
Define matching rules to a very granular 1 to 1 level or create more flexible rules such as many-to-1, 1-to-many or many-to-many matches. You can configure tolerances to allow match creations with acceptable tolerances.
- Interactive Matching
View suggested matches and decide whether to confirm or reject them or create manual matches - Balancing
Create period-end balancing reports that satisfy accounting compliance requirements - Data Optimisation
Maximise the number of matches created using tools that improve data quality
Application integration
Strong integration capabilities allow you to leverage existing IT investment by integrating data from other Oracle applications or spreadsheets and native databases removing all manual data preparation errors and risks
- Enterprise Aware
Consider data from all enterprise systems that impact finance decisions - Seamless Integration
Easily connect to source EPM and ERP applications such to source data directly - Office Integration
Leverage existing Excel skills by accessing your financial close process and data directly from office Smart View Add-in
Why Choose Version 1?
There’s no substitute for industry experience. We have learned from 1,000+ engagements and bring learned intelligence and techniques to every customer scenario. Our set of skills and know-how can deliver your most important Oracle transformation initiatives.
From recommendations to business impact. Work with us to develop cloud journey roadmaps that apply advanced cloud intelligence such as autonomous platforms, intelligent process automation and advanced analytics to your business challenges.
Our clients don’t bring us their simple problems; they trust us with their most complex scenarios. The fusion of our business process knowledge and advanced Oracle technology skills enables us to lead our clients from their point of pain to a place of success with less risk.