Organization worldwide uses Transaction processing systems with direct client interface to manage receivables. Industries like Telecom and other similar industries with large client bases, offer their client multiple payment options through various channels. These payments flow into the accounts held in various banks. Multiple payment options is a convenience demanded by the customers and more flexible the payment options are, the prospects of retaining the customer and realizing the funds becomes easier, smoothening the overall business cycle.
However difficulties crops up in reconciliation. The transaction systems have to be reconciled with the bank statements. In turn the Bank statements need to be reconciled with the General Ledger.
Features
- Flexible, scalable that can be tailor made across verticals. Very useful in Telecom/ Insurance/ Banks & Businesses with large client bases.
- Can handle data from disparate systems and bank statements in multiple formats. Data can be brought in from Payment Gateways/ Collection accounts/ Pooled accounts/ Current accounts, deposit accounts and from ERP systems.
- Ability to reconcile reconciliation in a multi-pronged manner – Between two systems or multiple systems.
- Auto match/ Manual/ Force Matching
- Matching of Single Entry/ Multiple Entries.
- Speedy implementation.
- Flexible enough to handle multiple transactions and users at any single point of time.
- Interface with existing and future versions of required modules of Oracle ERP.
- MIS reports as required, for analysis and planning.
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