QuikRecon

Reconciliation

Reconciliation is not only an essential part of every accounting practice; it is also crucial for many business models. Transactional industries should know—they process huge volumes of transactions daily.
While legacy tools may help reconcile up to a certain level, they usually become ineffective when thousands of financial transactions occur rapidly. The result is a number mismatch due to time constraints, fraud, or human error. Multiple minor mismatches impact the final numbers significantly and have a detrimental effect on a company’s financial health.

Enter – QuikRecon! A modern, versatile, web-based application software that can serve various business and technical environments. It features end-to-end automation of critical activities in the reconciliation process. This helps avoid erroneous manual tasks and presents a granular level audit trail.

QuikRecon supports various types of financial reconciliations, bank statements, Insurance transactions, merchant/credit cards, online payments, payables & receivables (AP/AR), general ledger to sub-ledger, GL / suspense, Nostro / Vostro accounts, intercompany, trades, and positions. It also possesses functionalities for innovative financial close management: balance sheet reconciliation and account certification, period-end task management, enhanced control of journals, and variance analysis.

This digital transformation era is fuelled by changing business needs, and so is QuikRecon. Whether you’re talking about new business data structures, rules, process workflows, or organizational changes, QuikRecon is ready for all! This results in a compliant, transparent audit that improves efficiency and saves time.

Few of the QuikRecon Use-Cases:

  • Bank Reconciliation
  • Insurance
  • Reconciliation
  • Debit/Credit card reconciliation
  • AP/AR Reconciliation
  • Trade Reconciliation
  • Payment wallet Reconciliation
  • Mobile Payment Reconciliation
  • Telecom billing Reconciliation
  • Unstructured Data Reconciliation

QuikRecon Key Features:

Bank Reconciliation

  • Transaction processing systems to general ledger reconciliation
  • Balance-to-balance reconciliation
  • Additional end-to-end process automation
  • Fully configurable matching rules
  • Automation of data import, matching, and reporting

Debit/Credit Card

  • Scalable to any volume
  • Multi-stepped matching to suit any process
  • Exception management and reporting
  • Intuitive UI and interface
  • Available onsite or in the cloud

Telecom Billing

  • Transaction processing systems to general ledger reconciliation
  • Balance-to-balance reconciliation
  • Additional end-to-end process automation
  • Fully configurable matching rules
  • Automation of data import, matching, and reporting

Unstructured Data

  • Handle data inconsistencies issues swiftly
  • Easier to track discrepancies and report on trends
  • Reduced cost of IT
  • Identify the root causes of data issues from various systems
  • Revenue loss and customer dissatisfaction