BANK RECONCILIATION

Make your bank reconciliation processes more efficient with the truly innovative features of the XREC solution

The up-to-the-minute solution for efficient bank reconciliation and matching

Bank reconciliation and matching allows companies to compare transactions carried out between two or more parties and verify their integrity. Reconciliation describes the ‘proofing of accounts, matching transactional data discloses any differences between two or more datasets’.

These may be internal or external transactional data sets of any volume or type. Reconciliation is essential in confirming the efficacy of the organisation’s liquidity and position, also to highlight any bank-to-bank penalties and to conform to regulatory requirements.

With our innovative matching engine, transactional errors between data and datasets are highlighted in short order as soon as the transactional data becomes available. Your team will be able to focus on break remediation and you can expect this to happen at speed.

HOW TO STREAMLINE AND QUICKEN YOUR BANK RECONCILIATION WITH CALIXYS?

CALIXYS’ XREC solution automates your bank reconciliation and matching further simplifies your day-to-day activities. You will be able to ingest and normalise your transactional data and account statements into the XREC solution in ‘near’ real time or batch mode.

Our robust matching engine will automatically apply your matching rules to the transaction data with great precision and speed. As a result, you will obtain an accurate view of breaks and outstanding items within minutes, which enables your team to focus on remediation.

Bank reconciliations are carried out typically on receipt of the ‘Statement’ data from your counterparty, typically MT940/950 or MT535/536 or can be a bespoke data file. This is an automatic feature of our solution, along with a comprehensive audit trail that guarantees transparency and regulatory compliance at speed.

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KEY BENEFITS OF THE XREC SOLUTION THAT YOU CAN LEVERAGE FOR A FASTER BANK RECONCILIATION

CALIXYS’ XREC solution automates and streamlines your bank reconciliation process – unlimited frequency of reconciliations, build-in certification workflow and automatic archiving of reports

  • Automation of data import, reconciliation, matching, and reporting
  • High volume matching between any transactional data, both internal and external with lightning speed and great accuracy
  • 100% configurable matching rules (1-1, 1-m, m-m)
  • Support retroactive bank reconciliations of a previous period
  • Reconcile and match data in any format. Zero coding needed to read all your source files and import transactional data
  • Break management functionality for discrepancies facilitating exchanges and ongoing analyses & explanation plus tracking resolution actions – allocation of follow-ups, attachments to transactions, resolution, etc.
  • Comprehensive audit trails for further follow-up and resolution
  • Export functionality which enables transactional data along with reconciliation and matching results to your current enterprise resource planning (ERP) system
  • Customisable dashboards with KPI’s for accurate and detailed reporting
  • Long-term archiving features for all your transactional data and historical reconciliation results

SIMPLE, INTUITIVE AND FULLY RESPONSIVE

XREC solution reconciles, matches and interprets data from any file format. The solution can also decode the key information on labels from the data source. Our bank reconciliation solution supports all the standard bank file formats, including SEPA CAM053, CFONB, SWIFT 940/950, SWIFT 535/536 and AFB120.

Standardise and control your data across your organisation on a single platform with our modern and user-friendly interfaces. With powerful features to track and label any remediations, you can assign to departments or people to ‘load balance’ the workload to more efficiently resolve and remediate breaks.

The solution is fully scalable to support company expansion – multi-users, multi-currencies, multi-languages, and available as a thick or thin client.

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Security

The security of your data is an absolute priority for CALIXYS.

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Implementation & Training

CALIXYS supports your implementation of the solution at your own pace.

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Scalability

Your satisfaction is our priority. We carry out several updates per year.

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Time for a real transformation

Discover CALIXYS’ platform through a personalised demonstration and learn how we can help you to streamline your reconciliation and close processes.