Account Reconciliation Cloud Services (ARCS)
Streamline organizations to report to stakeholders in a timely and accurate manner, and provides a level of governance, visibility, and transparency into the financial close and reporting cycle that enables management to be confident in the numbers they report to stakeholders.
Automate
Improve performance efficiencies using transaction matching and other automated reconciliation functions.
Manage
Get instant visibility to the progress and status of the reconciliation
lifecycle.
Best Practice
Leverage reconciliation best practices.
Key Features
Reconciliation Compliance
Keep track of preparer and approver assignments for each reconciliation. Use teams to distribute workflow and ensure timely preparation and efficient.
Gain workflow support for the account reconciliation process including reporting, analysis, and monitoring. Facilitate communication across distributed organizations and ensure capture of all audit documentation.
Leverage prebuilt reconciliation formats or create your own, providing a flexible environment for creating and deploying reconciliation formats across the enterprise.
Utilize rule-based thresholds for automated certification and risk assessments.
Transaction Matching
Maximize the number of matches created using tools that improve data quality.
Define match rules that produce 1 to 1, 1 to many, many to 1, and many to many matches. Configure tolerance rules that allow match creation with acceptable thresholds.
View suggested matches and decide whether to confirm or reject. Create manual matches subject to configurable constraints.
Create adjustments for variances between data sources, and track the resolution of the adjustments.
Create period-end balancing reports that satisfy accounting compliance requirements.
EPM Cloud Collaboration and Workflow
Gain workflow support for the account reconciliation process including monitoring, reporting, and analysis.
Get instant visibility into the progress and status of the reconciliation lifecycle.
Leverage audit controls for all activities.
EPM Cloud User Experience
Reduce training costs and increase user productivity with a web user interface and reports.
Manage, perform, and approve tasks in configurable management work areas.
View Operational and Compliance dashboards for real time analysis of reconciliation processes.