Enterprise
Performance Management

Account Reconciliations

Account reconciliation is a validation that the balance in the account is correct. Account balances are valid at a point in time, but business conditions keep changing. Companies face serious penalties for failing to reconcile.

What form does the validation take? Depends on the type of account. A senior accounting role ends up managing this process in Excel, most times the person is a CPA. Not a good use of their time!

Account Reconciliation is focused on the balance sheet, but it can be used for P&L Variance Analysis and Balance Sheet Variance Analysis, or even for alignment between the GL and Consolidation system, if required.

We have come up with a unique approach ensuring successful adoption of ARCS and addressing the challenges presented by this no. 1 Non-Data related challenge in the close process. We follow these steps which are keys to success

  • Know your company’s expectations.
  • Ensure that you understand the measures of success.
  • Design the application to meet those expectations.
Intellicore powered ARCS solution could automate 70-90% of high-volume reconciliations to allow accounting staff to focus on complex cases.
Support needs of Corporate Accounting in all industries for
  • Bank Accounts
  • Intercompany Accounts
  • Accounts Receivable
  • Accounts Payable
  • High Volume Accruals
Address industry-specific high-volume requirements
  • Banks: ATM / Fed Funds
  • Retail: Store Deposits / Credit Card
  • Insurance: Trade Settlement
Flexibility for daily and period-end matching and balancing

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