Manage the account reconciliation process efficiently and effectively. Well suited for organizations that have complex reconciliation requirements, such as those with many accounts, high transaction volumes, or multiple subsidiaries.

Types of Organizations

• Financial Services
• Retail
• Healthcare
•  Manufacturing

• The automated Reconciliation process, from data collection to reconciliation completion, reduces the risk of manual errors and improves efficiency.
• Flexible Data Integration that can integrate with a variety of data sources, including ERP systems, spreadsheets, and other data repositories, to help streamline the data collection process.
• Provides powerful reporting and analytics capabilities that enable users to gain insights into the reconciliation process, identify trends and patterns, and make informed decisions.

• A retail organization with many stores and a complex accounting structure. This organization has struggled to reconcile its balance sheets due to the high volume of transactions and the need to consolidate data from multiple sources.
• With ARCS the organization can automate the reconciliation process and improve the accuracy of their balance sheets. ARCS reduces the risk of errors, can help prevent fraud and improve compliance.

• Reconciliation Management creates an efficient, auditable solution that can reduce the time it takes to close “The Books.” Built-in workflow provides insight into who is doing what and when.
• Intelligent Matching reduces the time and effort to align transactions during the reconciliation process.
  • In accounting, account reconciliation involves comparing the transactions in a company’s general ledger to other data sources, such as bank statements or subsidiary ledgers.
• Advanced algorithms to automatically match transactions in the general ledger to transactions in other data sources. The system compares transactions based on criteria such as account number, amount, date, and currency. It can even use fuzzy matching to identify transactions that are similar but not exact matches.
• Manual labor-intensive intercompany reconciliations can be reduced to automated processes that are error-free.

Challenge 1: Manual Effort

• Account Reconciliation can be a time-consuming and manual process that requires significant effort from accounting and finance professionals.
• Without a centralized platform for managing the reconciliation process, it can be difficult to track progress and ensure accountability.
• Manual processes are prone to errors and may not provide the level of visibility and control to meet all requirements

Challenge 2: Complexity

• Reconciling transactions across multiple data sources can be complex, especially when dealing with large volumes of data or multiple currencies.
• The reconciliation process may involve multiple stakeholders such as finance, accounting, and operations teams.
• The need to comply with various accounting standards, regulations, and company policies. These can differ from jurisdiction or industry.

Challenge 3: Compliance

• Regulations and accounting standards require organizations to perform account reconciliations regularly and accurately.
• The volume of reconciliations depending on the size of the business can be a very time-consuming and rigorous task which makes room for mistakes and compliance issues.
• Failing to comply can result in financial penalties and reputational damage. Companies need to be Audit ready at all times.

• Improved Accuracy
• Save Time
• Increase Efficiency
• Enhance Visibility
• Improve Compliance

• Improved Accuracy
• Save Time
• Increase Efficiency
• Enhance Visibility
• Improve Compliance

• Organizations can improve the accuracy of the reconciliation process by automating the process, providing a standardized approach, and reducing the risk of errors and inconsistencies.
• Provides real-time visibility and control over the reconciliation process, enabling organizations to monitor progress, identify exceptions, and manage risk more efficiently.
• Helps organizations comply with regulatory requirements, internal policies, and accounting standards, by providing a robust framework for documenting and auditing the reconciliation process.
• Saves time and resources, while improving the overall accuracy and efficiency of their reconciliation process. This can result in significant cost savings.

• Reduced Complexity
• Faster Implementation
• The lower total cost of Ownership
• Greater Scalability and Flexibility
• Improved Security
• Cost Savings
  • Improved Accuracy and Efficiency
  • Greater Visibility and Control

• ARCS automates many of the tasks involved in the reconciliation process, reducing the amount of manual effort required by finance and accounting teams.
• ARCS provides improved accuracy by way of automation and gives real-time visibility into the status of the reconciliation process.
• ARCS provides a range of compliance features such as segregation of duties controls, audit trails, and reporting to help organizations meet regulatory requirements.

• ARCS automates many of the tasks involved in the reconciliation process, reducing the amount of manual effort required by finance and accounting teams.
• ARCS provides improved accuracy by way of automation and gives real-time visibility into the status of the reconciliation process.
• ARCS provides a range of compliance features such as segregation of duties controls, audit trails, and reporting to help organizations meet regulatory requirements.