REdirect recognizes that the manual process for bank reconciliations becomes unsustainable for many businesses. We've developed a solution that leverages our knowledge of various automation tools including Robotic Process Automation (RPA) to create a system to automate the bank reconciliation process.
Want to know how it works?
To begin, the client schedules a time with us, and we let our virtual bank reconciliation robot (known as “Rosie”) get to work. Rosie gathers data from the bank and ERP system and matches the transactions which appear in both. This includes both simple one-to-ones and more complex matches, for which we create a custom set of rules built specifically for each client’s business needs. She then marks them as reconciled in the ERP system, such as MRI or Yardi, in a fraction of the time it would take a person to complete.
When Rosie has finished working, she notifies the client that the work is completed. The client receives a full reconciliation report packet including all the information they will need. This helps you finalize any remaining transactions.
Our bot typically offers 80-99% completion of this work, with percentages increasing as more recs are completed for each client. This system saves a great deal of time, allowing you to re-engage your most valuable resource: Your people. Give the mundane and mindless work to the bots.