Transaction Matching Automation Software

Uncover the Advantages of Transaction Matching Automation Software

Leverage our AI/ML-powered matching engine and LiveCube app to automate account reconciliation. Say goodbye to manual data upload and data silos with automated data extraction from major ERPs and systems of records, ensuring enhanced efficiency and accuracy.

ERP/Non-ERP data integration

Configurable matching rules

Enhanced anomaly resolution

Multi-level review and approval workflow

Empower your finance teams to seamlessly handle high-volume transactions with automated transaction matching

Handle thousands of daily transactions effortlessly with our transaction matching automation solution, ideal for dealing with high-volume accounts such as banks, credit cards, loans, and investments. .

Auto-discovery rule engine with configurable matching rules

Customizable self-serve rule engine

Leverage the self-serve rule engine to identify rulesets to match transactions.
Modify identified matching rules as per your requirements before activation.
Match two or more datasets using configurable matching rules.

Pre-built integration for seamless data flow

Automate data extraction

Integrate with all the major ERPs such as SAP, Microsoft Dynamics, NetSuite, and Oracle.
Integrate with non-ERP systems such as banks and payroll providers.
Automatically import general ledger data and data across multiple systems.

Pre-built integration for seamless data flow Banner Image

Improved anomaly detection and resolution

Resolve 80% anomalies

View matched and unmatched transactions in LiveCube.
Check unmatched transactions to match manually or propose corrective entries.
View line items from both data sets on the same screen.

Out-of-the-box reconciliation reports

Track reconciliation progress

Define multi-level review and approval workflow for each reconciliation.
Segregate duties to ensure accuracy during the transaction matching process.
Keep track of each matched/unmatched transaction and adjusting journal entries.

Out-of-the-box reconciliation reports Banner Image

See advanced transaction matching automation in action

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Within 6 months, our automated transaction matching software delivers

Here’s how HighRadius advanced automated transaction matching software is transforming finance operations - Transition from inefficient reconciliation processes to streamlined, audit-ready operations with AI-powered automation.

90%

Transaction Auto-Match Rate

30%

Faster Reconciliation

80%

Reconciliation Automation

See HighRadius in Action

Our automated transaction matching software seamlessly integrates with your finance stack, enabling frictionless and faster reconciliation.

HighRadius focuses on building solid partnerships and offers robust integration capabilities to unleash reconciliation process efficiency.

Ready to automate your transaction matching process?

It’s time to move on from traditional reconciliation processes and leverage the power of AI-powered solutions. HighRadius’ transaction matching automation software offers best-in-class features to handle high-volume business transactions with ease. Simplify reconciliation with automated transaction matching today!

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FAQs: Transaction Matching Automation Software

What is transaction matching automation software?

Transaction matching automation software allows businesses to automate the matching process of transactions with external documents. The software essentially enables users to automate the reconciliation process, which has traditionally been time-consuming, complex, and labor-intensive.

An automated transaction matching software is capable of matching two or more datasets in order to ensure that all the recorded transactions are accurate. Such software can help companies create accurate financial statements and is crucial for today’s finance and accounting teams.

What are the benefits of transaction matching automation?

Account reconciliation is a complex and time-consuming process. In order to simplify the same, it’s imperative for businesses to leverage transaction matching automation. The software reduces the chances of errors during reconciliation in addition to accelerating the process.

Furthermore, automated transaction matching software allows for seamless data flow through pre-built ERP and non-ERP integration. Accounting teams also get a bird’s eye view of the entire reconciliation process and can easily automate posting corrective journal entries.

Why should businesses opt for transaction matching automation software?

Transaction matching automation software offers features such as automated data extraction, configurable matching rules, the ability to match two or more datasets, and enhanced anomaly identification and resolution. Such features help improve the account reconciliation process, which without automation is both time- and labor-intensive.

Automated transaction matching softwares accelerates the entire account reconciliation process, helping finance and accounting teams enhance the financial close process. It is due to these reasons that businesses should implement automated transaction matching.

How does transaction matching automation work?

Transaction matching automation software automates data extraction from multiple sources (ERPs and other accounting systems), compiles all the gathered data, and matches the transactions in the general ledger with external documents for a streamlined account reconciliation process.

Such software allows users to define matching rules and can match two or more datasets. Moreover, accountants can easily see unmatched transactions and propose corrective journal entries. All in all, automated transaction matching software automates the reconciliation process and allows for faster financial close.