Increase automated reconciliation by 60%, consider trade-offs and what-if scenarios for invoice management, and adjust working capital deployment in real-time with state-of-the-art data science techniques.
Ensure the accuracy and consistency of across your financial records and statements
Streamline transactions and invoice management
Reconcile internal records with external data to improve workflows, efficiency, and accuracy.
Ikigai Labs has a proven track record of delivering reliable Business Intelligence products and services. We’ve served global brands and companies and met their demand for scalable and intuitive demand planning solutions, including automated reconciliation software.
Financial reconciliation is an accounting process that compares two or more sets of financial records – internal and external – to identify the discrepancies and find matches.
These records can have discrepancies in their entries because of the timing of the payments, withdrawals, deposits, contract signings, invoicing, etc.
Older methods for financial reconciliation are tedious and time-consuming.
Unlike other tools, Ikigai’s reconciliation solution uses aiMatch, a powerful proprietary algorithm out of MIT research, that analyzes relationships between line items and their properties and infers matches based on all available information. As the result, it’s capable of finding over 40% more matches than any best-in-class fuzzy matching solution.
Thus, Ikigai’s solution saves even more time and minizes the risk of errors as you consolidate data from various sources. For example, our platform can process and reconcile data from balance sheets, ledgers and sub-ledgers, cash flow statements, fixed assets statements, POS gateway, and more.
While there is no standard method for financial reconciliation, it is a good business practice to reconcile accounts that observe generally accepted accounting principles (GAAP). Double-entry accounting, for example, is a business standard and is the most widely used tool for reconciliation. But when done manually, there is plenty of room for mistakes.
Ikigai’s solution allows companies to simplify cross-checks. No more rushing to balance both sides of your ledgers at the end of the month or employees working excessive hours to close the books on time. With Ikigai, you can reduce your reconciliation SOP in three easy steps.
Forecast and plan at an SKU level, category, channel, location - the possibilities are endless.
Automatically reconcile and unify 60% more of AP and AR entries for a faster, more thorough analysis with the unique aiMatch™ technique
When planning your AR and AP transactions to optimize working capital deployment, consider what-if scenarios at the click of a button.
Leverage Reinforcement Learning algorithms to optimize cash through effective AR, AP, and inventory management.
Accurate data is a powerful business tool, and you can have it at your fingertips. Here’s what you can get with the information consolidated through the Ikigai platform:
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Get a visual representation of the average days of sales outstanding, trendline to the top right, with the average of the averages displayed as a big number-DSO- to the top left. Summary below provides the number and dollar value of matches and exceptions approved.
Choose between different scenarios in real time, depending on your inventory strategy. The optimal Inventory to Sales curve leverages cutting-edge AI forecasting techniques and gives you the flexibility to optimize for cash on hand and minimize missed sales.
Never run out of stock with Ikigai's proactive PO recommendations and automated actions. Depending on the desired inventory levels, Ikigai will alert you if any of the SKUs need to be re-ordered, and even generate and send the PO for you.
Demand Planning Manager,
North American Online Retail Company
CTO, Online Marketplace
Operations Manager, US CPG Company
Demand Planning Manager, North American Online Retail Company
CTO, Online Marketplace
Operations Manager, US CPG Company
Use automated reconciliation software to match transactions at scale while minimizing risks of errors. Ikigai offers enterprise-level financial reconciliation solutions for clients in all industries. In addition, we provide tools for maximizing and interpreting financial performance and optimizing data to improve revenue generation.
Removing time-consuming, error-prone processes reduces operational costs and helps companies comply with federal regulations established by the US Securities and Exchange Commission (SEC).
Ikigai offers competitive and flexible pricing packages for businesses of all sizes. Please contact our team for more details.
