ReconAssist™, DELIVERING FINANCIAL CERTAINTY AS A MANAGED SERVICE
Ecentric Payment Systems understands the importance of improving operational efficiency, reducing business risk and achieving greater financial certainty. Our market leading Enterprise Reconciliation Service, ReconAssist™ provides businesses an end-to-end automated reconciliation solution for all transactions, including cash, card, VAS and collections on a single platform.
ENTERPRISE WIDE RECONCILIATION
With proven reconciliation experience, ReconAssist™ has reconciled over a billion transactions for some of South Africa’s largest businesses. This highly scalable solution offers data enrichment, higher match rates and improved control throughout the transaction lifecycle. Whether your business size is small, medium, or large, we offer a comprehensive managed reconciliation service that helps you gain total financial certainty.
At the heart of ReconAssist™ is the GTM (Generic Transaction Model), a truly generic model capable of enabling complete automation of any business’s reconciliation needs.
Flexible Data Acquisition
Transaction data come from a variety of sources; extracted from numerous systems, in a myriad of formats. With disparate data formats arriving throughout the transaction lifecycle, data matching can quickly become a major challenge for any organisation. ReconAssist™ offers a flexible data import and mapping facility that eases data inconsistency issues. With a system designed for flexibility, new data import plugins can be rapidly introduced to enable tight integration into downstream and upstream systems.
Alerts and Notifications
Automated notifications can be dispatched to the relevant reconciliation participant throughout the transaction lifecycle. Users can be alerted via a variety of communication channels such as email and SMS, informing them of reconciliation events and requests.
Matching based on Complex Rule Sets
With a transaction profiling approach, ReconAssist™ is able to deliver focused, granular rules for accurate matching. Any financial transaction can be easily profiled with a supporting set of reconciliation matching rules. Complex rules are configured in ReconAssist™ to enable reconciliation to accurately report transaction processing anomalies and to execute the relevant financial process for each transaction type.
ReconAssist™ utilises a rules based engine for uniform configuration. Any combination of business rules are easily loaded into the engine either through a wizard interface or by the ReconAssist™ implementation team.
True financial certainty can only be achieved by incorporating views from all participants in a transaction. ReconAssist™ goes beyond basic matching, providing businesses with the facility to achieve multi-view matching based on their transaction profiles. Our configurable profiles describe matching relationships, rules and levels.
Views are relevant based on the transaction context. For in-store card payments, ReconAssist™ consolidates views from the point of sale, transaction processors and acquiring banks.
Efficient mapping, validation and profiling
In order to advance data to the matching phase, the data needs to be transformed, mapped, optionally aggregated, validated and profiled. Designed as a data source agnostic system, ReconAssist™ offers the flexibility to configure an extensive set of rules to achieve data transformation objectives.
Workflow based Exception Resolution
ReconAssist™ streamlines reconciliation operations by enabling exception identification, tracking and resolution on a single platform. With segregation of duties, ReconAssist™ allows each participant to play their role in the resolution process and only gain access to data relevant to their function.
ReconAssist™ transmits a multitude of transactional data to any destination system including ERP and billing systems on a scheduled or event driven basis. The frequency of data transmission is fully configurable. Data feeds can be scheduled for export at meaningful intervals from seconds, to hourly, daily, weekly or monthly. Event driven exports are automatically triggered when configured rules are fulfilled in ReconAssist™. Postings include Enriched transaction details, Fees and Commission Settlement instructions, Payment Advices, General Ledger postings, Adjustment Details and Exception Details.
Rich User Experience and Reporting
ReconAssist™ provides extensive enterprise wide reporting across all transaction types. Configured users have access to reports, queries, search facilities and web forms for easy access and resolution of exceptions. Reporting provides multiple date options including trading week, single day and date ranges and Data Filters are customisable according to operational requirements.
Archiving and Audit Trails
ReconAssist™ offers data archiving to match your organisation’s data retention and compliance requirements. The complete transaction history including associated exception management actions are securely archived and readily available for audit reporting. ReconAssist™ offers your business a complete audit trail, providing a single consolidated view for convenient access.
CENTRALISED RECONCILIATION ACROSS THE ENTERPRISE
ReconAssist™ services the entire enterprise supporting all brands, regions, channels, stores and transaction types.
REMOVE RECONCILIATION SILOS
Consolidate silo reconciliation implementations into an integrated, single platform solution. Reconcile any transaction type with flexible data imports, enrichment and matching, from the point of transaction initiation through to post settlement.
REDUCTION IN STAFF
Take advantage of streamlined processing to reduce resource intensive functions, saving your business time and money. With ReconAssist ™, reconciliation is automated, administrators are able to utilise workflow driven exception management across multiple transaction streams, and existing business processes can be improved with enhanced transaction visibility and control.
Automate exception posting, adjustments and any other transaction notifications to internal or external systems. This allows your business to eliminate human error, reduce human resource costs and enable administrators to focus on other functional activities.
TRANSACTION VISIBILITY AND FINANCIAL CERTAINTY
Enable all departments to track and verify transaction reality (settlement) with transaction theory (sales) at any point within the transaction lifecycle. Discrepancies in the ledger can be quickly quantified, enabling better decision making and reporting to shareholders.
PCI COMPLIANT SERVICE
ReconAssist™ is a PCI compliant service, ensuring that your business’s transaction data is always secure.
The ReconAssist™ web interface provides an interactive experience enabling users to navigate transactions using a variety of convenient graphical controls. Reporting spans exception management, business intelligence, ledger views and reports on all states of a transaction, not just exceptions.