ReconArt, Inc.

ReconArt is an enterprise class fully web-based reconciliation platform designed for end-to-end automation and integrated management of the entire reconciliation lifecycle. ReconArt serves businesses from all verticals and sizes which tackle enormous transaction volumes, multiple data sources or complex matching logic.

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Account Payables and Supplier Invoices Reconciliation

29th April 2021

The Supplier submits a list of transactions and the outstanding balance of unpaid invoices for a given period. The Buyer’s Accounts Payable (AP) department, on the other hand, compares those records to the internal AP ledger to identify any differences. Those might be invoices or credit notes on the Supplier statement that are absent in the AP...
TransferGo Case Study - payments industry

27th April 2021

Bank statement and Account Payables reconciliation. Seamless integration with NetSuite. TransferGo outlined two major product requirements. First – full reconciliation process automation functionality. Second – scalability, meaning flexible solution capable to accommodate multiple data sources and huge data volumes with speed and precision....
Card Transactions in the e-Commerce World

14th April 2021

The way payments are made nowadays is radically changing. People are using all kinds of devices (e.g. via smartphones and tablets) to shop, pay the rent, book a trip or make any other types of transactions. Thousands of companies are competing and cooperating at the same time to enable and simplify the flow of transactions and the transfer of...
Holiday Extras - Case Study

2nd April 2021

Holiday Extras is among the United Kingdom’s travel industry market leaders, offering full customer travel experience. Holiday Extras saw a large increase in profits and a wide expansion across Europe in 2011. It became evident that this growth required a transition from reconciling in complex spreadsheets to establishing a modern technological...
Bank Reconciliation: Challenges & Solutions

24th March 2021

While bank reconciliation is needed and wanted in order to assure control and healthy finances, it is also tedious to a level that often discourages and leaves you drowned in details that obscure the original intent of the whole process. It is a daily routine for thousands of companies and people around the world and a heavily regulated reality for...
US State Treasury Reconciliation Use Cases

5th March 2021

The managed asset portfolio of each US state treasury is worth billions of USD. The cash position is of similar size. On operational level, the state treasury office takes care of receipts and disbursements. It may redeem, countersign and distribute warrants (check issued for services delivered as part of public procurement) and checks as part of...
Fullerton Health - Case Study

2nd March 2021

Fullerton Health Medical Centres - one of Australia’s leading primary healthcare providers with over 60 clinics located throughout metropolitan and regional locations - engaged in automation of its medical centre bill payments reconciliation. Each entity provides a broad range of healthcare services which are billed to insurance companies,...
Account Reconciliation for eCommerce

26th February 2021

Reconciliation finds its place in any and every accounting practice, but for some business models it has become a central issue. Transactional industries stand out as the most obvious example, where huge volumes and speed of exchange operations are typical characteristics on top of cash amounts turnover. Retail business and the e-commerce segment...
High volume transaction data matching - full automation, zero compromise

19th February 2021

Automated high volume transaction data matching - simple steps: 1) Prepare your data for matching - transformation & enrichment. 2) Teach ReconArt your business logic - matching criteria and rules creation. 3) Reconcile by your rules - one to one, one to many, many to many, three-way matching relationships. 4) After the matching dust settles -...
Credit Card Reconciliation - Calgary Co-op Case Study

15th February 2021

Calgary Co-op is a member owned retailer operating food, pharmaceutical, petroleum, home health care, liquor, and cannabis outlets. Founded in 1956 in Calgary, Alberta, Canada. In expanding its operations, Calgary Co-op saw a substantial increase in the transactional volumes of its merchant accounts, which required automation of transaction...