And how major players are replacing out-of-date and resource-intensive processes with ReconArt's cloud-based reconciliation solution.
ReconArt's powerful import functionality allows business users to standardize all kinds of data formats on import. Common business logic can be applied for transaction types across vendors, partners and both internal and external systems.
For Travel Industry reconcilers, dealing with statements and invoices from multiple suppliers, banks and payment gateways is often a big challenge.
ReconArt provides rich Integration tools that make it easy to map, normalize, transform and enrich data, ensuring a painless data flow.
ReconArt is unique in is its ability to automatically match high volumes of transactions with dynamic variances on any definable logic and in any configuration. ReconArt’s high speed matching engine can efficiently and accurately isolate exceptions in high volume accounts.
The heavy transaction volumes of Travel Industry often leave reconcilers days or weeks behind – by the time they discover a problem, it might be too difficult or impossible to resolve it in a best-practice way.
By switching to ReconArt’s daily automated matching users can eliminate manual errors and improve visibility of exception items. The best part? This can all be administered and controlled by the business users themselves.
Although usually the most time consuming, Matching is just one part of reconciliation. ReconArt can also automatically categorize Exceptions for investigation, trigger notifications, or even handle your entire Period-End Balance Sheet Reconciliation.
In the Travel Industry, it is essential that payments representing services rendered by the company or an external supplier are properly tracked – not just for operational purposes, but also for upholding business reputation.
From ReconArt, matched invoices and credit notes can be automatically exported and sent directly to an accounting system.
Journal Entry approval as well as SOX-compliant period-end close workflows are also available for those companies who wish to fully capture their Total Reconciliation Lifecycle in ReconArt.
We are proud to work with a wide range of clients – from small to enterprise-level organizations.
"The available complexity of the matching rules is perfect for us, as it means we have super-tight controls over what we accept to pay from suppliers, which is very important to us; if we didn’t have this capability we would end up over paying suppliers by thousands probably."
"It is amazing how easy it is to setup the system and to make changes if suddenly business needs change. The change of file formats from suppliers has been a big issue in travel companies the last few years"
Travel, Hospitality and Leisure is one of our fastest growing industries, as our client base now includes agencies around the globe. The built-in flexibility and our experience in travel industry-related reconciliations allows ReconArt to serve the reconciliation needs of small, medium-sized and big companies.
1-855-RECONART (Toll Free)
6462 Little River Turnpike
Alexandria VA 22312-1411
14 days free. No credit card required.