USE CASE
Automated Bank Reconciliation
Each close requires comparing bank transactions with receipts, payments, and ERP records; references do not always match.
In brief. This use case consists of assessing how to: import transactions, normalize references, apply matching rules, and separate unresolved items.
How it works today
Each close requires comparing bank transactions with receipts, payments, and ERP records; references do not always match.
Where time is lost
References differ across bank and system; someone compares rows, looks up receipts, and marks differences by hand.
What can be automated
Import transactions, normalize references, apply matching rules, and separate unresolved items.
How a workflow could work
A practical flow takes inputs from the relevant sources, checks them against agreed rules, performs routine actions, and sends uncertain cases to a person.
What still needs a person
Treasury investigates discrepancies, authorizes adjustments, and confirms ambiguous entries.
Systems that may be involved
Bank statements, payment gateway, and ERP.
When it is worth assessing
When close involves many recurring transactions and comparable references.
What not to assume
Full matching cannot be assumed; unmatched items require review.
How Smartservices approaches it
We map the existing process, verify data and system access, define controls and a human review point, then scope an integration or automation around the actual workflow.
Questions to ask before starting
Can this work with our current systems?
It depends on available APIs, exports, permissions, and data quality. We check those constraints before choosing an integration.
Will people still review exceptions?
Treasury investigates discrepancies, authorizes adjustments, and confirms ambiguous entries.
What is needed for an initial assessment?
A sample of the current inputs, the steps people perform, the systems involved, and the most common exceptions.