Finance/Insurance
Adra Match automates all manual steps in the reconciliation process, from reconciliation to reporting. We can also help you create a uniform process for all accounts to be reconciled. This makes reconciliation safe and effective and, last but not least, regardless of when it is performed and by whom.
Adra Match Accounts gives you:
- A fully automatic reconciliation process
- Personal independence – delegated responsibility
- Final account figures
- All reconciliation history recorded
- A uniform approach irrespective of number of companies, banks, systems and accounts
Complicated procedures …
Massive transaction volumes are common in the industry. Such transactions are often handled in primary systems, which then send the data to the finance system. Insurance company systems often process the potential claims of all their customers. Since there are requirements that an issued invoice for an insurance policy cannot be in the finance system’s customer accounts, they are handled instead by an external system. The external system then sends that information to the accounts system. Financial transactions are also often handled, such as funds and fund purchases, in external systems. Consequently, reconciliation between systems is very extensive.
To connect systems and match transactions in them with activities at the bank for example, is a big challenge for everyone in the industry. Differences between the accounting system and external systems are often so difficult to reconcile that differences are tolerated, to avoid extensive investigation work.
In addition to the reconciliations above, the industry often also has to deal with extensive statements with many different bank accounts and cash accounts to reconcile.
… are simple and safe
Adra Match Accounts matches data automatically. Any errors in the balances are always reported in the individual transactions that create the false balances. That way you always have full control over where correction and action is needed, right down to transaction level.