iMatch can handle large volumes of data and its intelligent rule building delivers a quantum leap in reconciliation efficiencies. Our industry-agnostic solution, automates multiple reconciliation areas across various financial sectors, including Banks, Financial Institutions, Asset Management Companies, Insurance, Custodians, Trustees and Fund Accounting Service Providers among others.
iMatch covers all key areas across verticals. Its rule-based versatile system delivers intelligent reconciliation, reducing operational costs and risks. iMatch incorporates an intelligent and robust system that covers all industries across the spectrum, avoids manual and time-consuming efforts, reads and converts any format from any source for reconciliation and handles large volumes of data accurately and timely
This high degree of configurability provides greater control, automation, and process standardization, enabling you to focus your resources on value accretive activities.
iMatch addresses key challenges such as non-standardized processes, lack of insight, complex reconciliation scenarios, and historical data tracking. It offers substantial benefits including standardized processes, increased transparency, reduced setup time, and advanced match algorithms for complex scenarios.
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Auto reconciliation enables better audit tracking, eliminating typical spreadsheet based reconciliation that are prone to errors
Reduces revenue leakages and measures service provider deliverables.
Increases operational efficiency by streamlining processes through standardization.
Machine learning provides for continuous improvement of automation rate.
High throughput and faster processing even for large volumes.
Advanced match algorithms to reconcile complex scenarios
Build the knowledge and understanding base for improvement and fine tuning of the processes
Proactively alerts sent to relevant stakeholders
ETL Tool
The in-built ETL tool automatically detects the arrival of new data & facilitates data extraction, collation and transformation. Data cleansing is done by applying pre-defined business rules to summarize and aggregate data that is ready to be used for reconciliation.
Intelligent File Sense
File Sense technology enables files to be uploaded by placing them in a specific directory or emailing them to a common system ID, from where they can be automatically sensed and absorbed by the system. Files can also be uploaded manually.
Auto Reconciliation
The Automated Processing engine performs four-way reconciliation that covers the entire transaction lifecycle. The core engine understands matching requirements across data sets, enabling automated extraction of business rules.
Manual Reconciliation
The Manual Reconciliation or Reconciliation Breaks bucket provides quick insight into data anomalies and enables speedy resolution through its own set of rule logics, filters, grouping criteria and quick search options.
Exception Processing
Exception Processing allows a maker-checker workflow to execute force match transactions, with all due diligence & specifying reasons for each match. The system highlights any variance amount and once matched, enables users to specify its impact on accounting transactions.
Reporting
A view of reconciliation performances across different subgroups, comprehensive trend analysis to evaluate reconciliation activity over time, transaction logs and rule effectiveness, all provide for business process efficacy.
Control Centre
During critical business events in the reconciliation life cycle, get alerts on data arrival within the system, reconciliation status across source pairs and approval notifications. Track account variances, reconciliation process variability, status, deadlines and metrics on a real time basis.
iMatch can evolve with changing business operations through its in-built, user-defined rule engine that uses data driven learning. The system can ensure that reconciliation is over 90% automated and is designed to function in a ‘non-intrusive’ mode that automatically detects the arrival of new data. With the elimination of a manually extensive process, iMatch ensures that business records, financial & accounting records and bank transactions are in sync.
Get in touch with our team to elevate your reconciliation.