Reconciliation Reconcile items among multiple parties in an efficient & secure manner

Key benefits Reconciliation

  • RecoChain is a BlockChain & Smart Contract based Solution that enables collaborative Transaction Processing, Reconciliation and Resolution across multiple entities.

  • Upload: Parties can upload their reconciliation data in various formants into a permissioned blockchain on secured ledgers. Participants are identified and their respective positions are visible to all authorized parties.

  • Consenus: Mismatches are flagged and visible to the participants. A maximum of breaks are either resolved automatically or with Decision-Support. The remaining are resolved in a collaborative manner. Actions are immediate, observable traceable.

  • Extraction: Resulting Transaction & Position records can be extracted in multiple formats in view to be used in other systems.

  • RecoChain enables a transparent, collaborative and fast matching that can be integrated into defined sections of the value chain.

The benefits

  • Process Efficiency:

    Speedily identification, qualification, resolution of breaks; less friction going back and forth on trivial items; cost reduction due to automatization and less recurrent tasks.

  • Execution Quality:

    Transparent break identification; error minimization; focus on the complex items.

  • User Satisfaction:

    More resources to improve processes; positive cascade on other points in the value chain; enhanced outcomes.