Global regulatory requirements and constantly increasing transaction volumes demand greater operational efficiency and risk management. Financial institutions need efficient Reconciliation and Investigation capabilities to reduce financial risk. These capabilities help identify payment errors, discrepancies, or irregularities early in the payment process.

Many organizations use multiple systems to support the Reconciliation process which makes it difficult to get a unified view of the balance sheet and requires costly manual interventions to solve exceptions. With multiple sources of reconciliation data, there’s no single version of the truth. The manual work required to compare and reconcile data in different systems increases the administrative costs, introduces the risk of errors and slows down exception management. Manual processes and fragmented, siloed departments are the enemy when it comes to increasing operational efficiency.