Account Reconciliation and Transaction Matching

Account Reconciliation is the #1 non-data related delay in the financial close. Oracle Account Reconciliation significantly reduces the time and cost to close by streamlining the close process with process automation of the reconciliation process and better control.

Success Story

Global Industrial Manufacturer automates a Fully Integrated Cloud Reconciliation Process between GL and Sub Ledgers

Challenge

• Lack of automated integration was forcing repeated manual activities
• Data accuracy and audit concerns; chance of “human error” was high
• Reconciliations only possible at a high level, given time and data constraints
• Heavy on maintenance, limited analytics and insufficient controls

Solution

Accounts Reconciliation Cloud Services (ARCS)

Benefits

• Fully automated GL to SL recons leveraging Transaction Matching
• Custom attributes for deep insights into the process
• Robust audit and compliance controls using customized qualifiers
• Scalable design to incorporate diverse business requirements