Beyond Transaction Matching

In today's fast-paced business environment, organizations face the ongoing challenge of managing high-volume transaction reconciliations with efficiency, accuracy and tighter time constraints than ever before. Traditional reconciliation methods can be time-consuming, error-prone, and often lead to delays in financial reporting. This is where Trintech's Cadency Match changes the game, transforming the transaction reconciliation process with advanced automation and complex match rules.

Overview of Cadency Match

Trintech’s Cadency Match module is a powerful transaction management solution that delivers more than automated match rules and consequently provides the highest ROI within the Cadency solution. It is designed to standardize and enrich the data needed to process high volume reconciliations, improve daily operational inefficiencies by automatching transactions, increase visibility by identifying errors before period close, and lower risk by decreasing write-offs due to delayed reconciliations.

Benefits of Cadency Match

1. Data transformation – More often than not, externally sourced data is messy, disorganized, and inconsistent. Cadency Match can standardize an organization’s data regardless of source using highly customizable data translation rules and data mapping definitions. Not only does this built-in capability enrich and transform the data, but it allows for more accurate transaction matching.

2. Complex match rules – The highlight of Cadency Match is its unique ability to handle complex matching scenarios. Most matching solutions on the market can only accommodate one to one matching with simple data sources and formats. Cadency Match better addresses your business needs by providing one-to-many and many-to-many match rule configuration. Match rules in Cadency Match can even be configured to tailor the automatching process according to the type of account and the data imported.

3. Exception processing and visibility – Using the automated exception processing in Cadency Match, organizations gain real-time visibility and insights into the daily status of their high-volume transaction account reconciliations . This transparency allows finance and accounting teams the ability to identify bottlenecks and resolve issues proactively, ensuring reconciliations are completed on time.

4. Increased accuracy and efficiency – Cadency Match automates the transaction matching process, eliminating the likelihood of human error that accompanies manual work. This automation also streamlines the reconciliation process by automating other repetitive exception item related tasks allowing finance and accounting teams the time to focus on high-value activities. With faster match processing and task automation, organizations can close their books more quickly and move on to strategic financial planning, which is critical to the close process.

5. Integration capabilities – Because of the data transformation capabilities native in Cadency Match, it integrates seamlessly with existing financial systems, ensuring a smooth transition and minimal disruption to the existing technological landscape. This compatibility allows organizations to leverage their current technology investments while enhancing their reconciliation capabilities.

What to consider when deciding if Cadency Match is the right fit for your organization:

1. Volume of transactions – Evaluate the volume of transactions your organization processes on a daily, weekly, and monthly basis. If you handle a high volume of data and frequent reconciliations, the automation and efficiency offered by Cadency Match adds up to significant time and resource savings.

2. Data complexity – Consider the complexity of your data sources. If your organization pulls data from multiple systems (e.g., ERP, CRM, Bank, FAS, POS, Credit Card Processors), Cadency Match’s source system integration and data transformation capabilities can help ensure data accuracy and integrity while streamlining the account reconciliation.

3. LOE for current reconciliations – Review your current reconciliation process for your high-volume matching accounts. How much time is spent downloading data source reports, reformatting, and updating formulas and macros in spreadsheets just to highlight potential matches? Implementing Cadency Match can introduce data transformation and automated match rules that address extended closing cycles caused by these manual data gathering, matching activities and exception research/processing.

4. Scalability – Evaluate plans for future growth to understand the changes in transaction volume and complexities of data sources. Can the current process/system scale as your company grows? Cadency Match is purpose built for businesses to scale their reconciliation and matching processes efficiently using account maintenance automation and copy/edit configuration functionality without increasing required resources and compromising performance.

5. Compliance requirements – Cadency Match is built to reinforce standardization across the company, ensuring controls are in place for all processes and user groups. As a system of financial controls, Cadency also includes inherent functionality to assist with audit requirements such as detailed audit logs and period end reconciliation audit packages.

Interested in learning more? Contact us today!