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Process Details
Agnostic
An AI agent that retrieves bank statements, matches transactions with entries in the general ledger, identifies discrepancies, suggests matching rules, and prepares a reconciliation report.
This use case solution follows these general steps at a high level:
The agent is designed for flexibility. It can natively integrate with major ERP systems (e.g., SAP, Oracle NetSuite, Microsoft Dynamics 365) via APIs. For data acquisition, it can process files like Excel, CSV, and PDFs from any banking institution, and it can be configured to retrieve them from secure FTP sites, email inboxes, or network drives.
The matching logic is highly customizable. While it comes with pre-built rules for matching by amount, date, and reference numbers, you can easily configure more sophisticated, multi-tiered logic.
The agent enhances your audit and compliance posture. Every action taken by the agent—from data retrieval to a matched transaction to a generated report—is logged in an immutable audit trail. The final reconciliation reports provide clear documentation of matched items, outstanding items, and all exceptions, giving auditors a complete and easily verifiable record of the process.
No, it does not. To ensure strict financial governance and maintain a human-in-the-loop control, the agent suggests journal entries for items like bank fees and interest. These suggestions are then sent to a designated accountant for review and approval before anything is posted to the General Ledger. This maintains the principle of segregation of duties.
A standard implementation/configuration can be completed in as little as 2-4 weeks. The process involves an initial discovery session to understand your specific ERP, chart of accounts, and bank statement formats. The primary requirement from your team will be access to a subject matter expert from your finance department and light support from IT for system access and credentials.
The agent is built on a cloud-native architecture, making it highly scalable. It can process tens of thousands without a degradation in performance. You can run reconciliations for multiple legal entities or bank accounts in parallel, ensuring the solution grows seamlessly with your business needs.
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