Data Reconciliation
You won't lose any more data as you move from one system to another
Do you need to migrate information systems? Supporting mergers or acquisitions? Drawing up consolidated financial statements and comparing data among enterprises scattered around the world? Check received and unbilled goods or compare claims with premium receipts? Data reconciliation is useful wherever the highest accuracy of the Information transmitted between two or more applications, internal or external to the company.
Data Reconciliation is […] the process of adjusting data derived from two different sources in order to eliminate, or at least reduce, the impact of differences identified in a previous data comparison.
(Source: Eurostat – Statistics Explained)
With more than 20 years in the market and experience from developing more than 300 data quality applications, Irion together with its Partner Network facilitates Data Reconciliation activities in your company. Have you ever found yourself unable to migrate data between different information systems? Or not being able to align front, back, and middle office operations to meet regulatory requirements? And not being able to reconcile the values in your spreadsheets with those required by the regulators?
Irion EDM® reduces the effort, time, and costs of data management activities, simplifies processes, and accelerates the implementation of customized Data Applications: reconciled data can finally be reliably used in your business processes, thanks to the proprietary methods and technologies that Irion and its Partner Network provide, tailored to your business’s specific needs.
Why do Data Reconciliation with Irion EDM®
You can automate processes, define matching rules, set thresholds and tolerances, and analyze outcomes with all the power of our platform and its automations.
Automations and tips: save time, reduce errors
Irion EDM’s metadata-driven approach allows it to suggest to you, via an underlying dictionary, what key fields to compare, thresholds to accept, and rules to apply-thus saving time and resources, avoiding human error, and increasing efficiency.
Increase the frequency of follow-ups and consult the outcomes now
With Irion EDM’s proprietary Declarative ELT (DELT) technology, you can reduce staff effort, perform closer monitoring over time (e.g., from semi-annually to quarterly) get reliable outcomes that are immediately searchable, via a dedicated dashboard within the monitoring solution.
Manage big data, including with AI and ML
You can design and activate complex reconciliations very quickly, map data in any format, analyze and profile it. And introduce matching rules through artificial intelligence and machine learning tools, translate them into plain language and rule-based approach.
Improve workflow and alert management
Acquire the input data directly and archive it along with the outcomes of the checks. You can quickly access detailed information, send automated e-mails to colleagues, generate reports or alerts to relevant offices.
Reduce risk and increase process profitability
Increased operational efficiency results in greater customer satisfaction, fewer errors and complaints.
in-depth data integration
Data Integration, what is it? What is it for?
For DAMA, data integration describes the processes related to moving and consolidating data within and between data stores, applications, and organizations…
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