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 automated transaction matching


Dump the Spreadsheet. Leveraging AI for Automated Transaction Matching

#artificialintelligence

As digital transformation sweeps across the enterprise landscape, F&A processes continue to evolve. The decades-old manual process of entering data into a spreadsheet for reconciliation purposes has given way to digital reconciliation, with the advent of automation technology to make it faster and more efficient. However, even automated processes have evolved in the last few years with the advances made in machine learning and AI. What do these advances mean for F&A teams today?To illustrate the profound implications of AI and machine learning for F&A, consider the evolution of the transaction matching process in reconciliation. From the earliest days, F&A departments have largely relied on manual processes to reconcile accounts.