Many companies are faced with the challenge of having to identify discrepancies between various systems within their organisations, or with their trading partners. This reconciliation process often involves thousands of transactions, can be extremely time consuming, and is a labour intensive task if performed manually. It has therefore become imperative that an automated process be implemented.

ReconCity.com is a bureau service, which provides electronic data reconciliations to companies across the globe. Our unique reconciliation software has been developed to automate even the most complex reconciliations. Reconciliations can be performed daily, weekly or monthly between two systems within the same company, or between two systems from two different companies. The two systems could also contain disparate data formats, which are converted to a common format in the reconciliation process.

Clients simply supply us with the two files containing the data they would like to have reconciled. The number of records and the total sum that these records amount to is also supplied with each file. This is to ensure that the file’s content ties back to the companies respective systems. The agreed rules provided by the client are then used to reconcile the data from each file.

The supplied files are verified to ensure their integrity and are then reconciled using our reconciliation software. Clients are then provided with statistics of their reconciliation, and reports containing the matched and unmatched transactions, together with a complete audit trail. Our website allows clients easy and secure access to upload their data, and download the results as they become available.

Outsourcing your company’s reconciliation requirements will save you valuable time and money. There is no need to install or maintain any expensive software or hardware since the reconciliation takes place on our systems. Our secure website makes uploading and downloading your data simple, and the service is robust, efficient and extremely flexible.