Reconciliation and collaborative transaction resolution
Reconcile items among multiple parties in an efficient & secure manner
- Advantages
- Benefits
RecoChain
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
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.
