Our Powerful Matching Engine

Key Benefits

  • Use the most advanced matching functionality on the market today
  • Automate complex matching processes with multiple data sources
  • Define simple or complex matching logic in a super intuitive rules interface
  • Interact with your data intelligently in a fully configurable environment

 

Overview: The ReconArt matching engine is a key product differentiator. Benchmarked at over 1 million transactions per minute, the matching engine supports multi-sided reconciliation and complex match rules in 1-to-1, 1-to-many, and many-to-many relationships. This powerful functionality is packaged in the most intuitive, modern, user-friendly way possible, making it highly scalable and accessible to the average business user. High volume, complex matching needs exist across the board in small to enterprise environments, requiring matching functionality that is feature rich, fully configurable, highly flexible, and business-user owned. The ReconArt matching engine answers this need by providing all the essential building blocks to fully support any matching operation.

Purpose: Conceptually matching is at the heart of the any reconciliation process, yet every environment varies in its precise matching needs and business logic. A truly valuable matching engine today should leverage the latest technology to meet the highly varied and evolving market needs. ReconArt’s matching engine does exactly that by delivering a flexible, reliable, easy-to-use, rules-based system. All matching activity is intentionally designed to reside inside the business user community, allowing for a meaningful, thorough, and transparent operational workflow.

Compliance: Every action made within the matching engine is recorded in an audit trail. During audits and when compliance issues arise, the readily available audit history can be used for investigations and verifications.

How it works: The ReconArt match engine is rules-based, meaning that it allows for a particular set of logic statements to be applied to any one, two (or any number of) data sets in order to evaluate candidate records and create a match. These logic statements, or rules, do not require any typing, programming, or other IT-based knowledge. On the contrary, rules can be easily constructed in ‘plain English’ thanks to standard operation buttons and Excel-like statements. Rules can also be assigned different levels of automation to help optimize the process.

Challenges:

  • Reconciliation involves multiple data sources in different formats that need to be compared and matched on different logic. Much of this work is accomplished using spreadsheets in manual or semi-manual environments. In either scenario, too much time and effort is spent with low-quality results and zero audit capability.
  • Historically, matching systems have been complicated to setup up and even more difficult to maintain. Intricate scripts and programing languages are used. It might be that teams relied on colleagues acting as “gurus” to piece together a tenuous solution that was not particularly reliable. Often there were time delays having to wait for multiple people to plan, write, and verify the matching code and logic.
  • While many reconciliation processes can be fairly simple, the number of cases with added complexity tend to grow as new partners and data sets are introduced into the environment. Executing lots of steps in an exacting order while linking to other processes can, at times, get unruly and unmanageable.

 

The Solution:

  • The ReconArt matching engine is designed to match any type of data – external financial (bank statements, credit card statements, statements of accounts, trade deal sheets, etc.), internal financial (coming from any ERP, core, or internal system) or even non-financial (mail pieces, SLAs, print counts, etc.). By using all the tools related to our matching capabilities, incoming data can be even be enhanced and enriched to support rich business logic, yielding high quality match results.
  • With ReconArt, the setup of matching logic is made intuitive and efficient. Our simple to use, rules-based matching engine puts you in control of the process. Changes can be made very quickly, almost on the fly, as the business requires. Tweaks and enhancements can be made in seconds as the need arises across all the reconciliation processes to support always-improving accuracy.
  • Flexibility is key when dealing with complicated and often exacting matching processes. Our matching engine makes even the most difficult reconciliations a simple and quick, offering the ability to match exactly what you want, in the order you need with extreme ease and reliability. Matching processes can also be linked to each other internally for multi-stage workflows on a very granular level.

 

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