Smart Payments Reconciliation

PS-SPR

ProgressSoft’s Smart Payments Reconciliation solution integrates various payment and transaction sources to streamline the entire reconciliation process including administrative tasks, data integration, transaction matching, exception management and report generation.

The highly customizable solution handles large data volumes, supports multiple payment channels, provides full transparency into transaction records and automates exception management, massively minimizing audit costs and administrative burdens while facilitating compliance with regulatory standards.

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PS-SPR

Features

Configurable Transaction Matching

PS-SPR simplifies reconciliation with intelligent, rule-based transaction matching. It seamlessly integrates with payment and transaction sources and offers high automated match rates, reducing manual effort and eliminating the need for technical expertise.

Configurable Transaction Matching
Exception Management

Exception Management

PS-SPR efficiently handles reconciliation discrepancies, including unmatched transactions, through a streamlined exception management process. Users can easily analyze, view and resolve discrepancies by enforcing matches and applying the correct accounting entries, ensuring effective reconciliation.

Flexible Input Sources

PS-SPR supports various input source file types, including CSV, Excel, XML, database links and retail payment system file structures. This flexibility ensures smooth integration with different data formats, allowing adaptable reconciliation processes.

Flexible Input Sources

More features

Versatile Reconciliation Modes

PS-SPR offers flexible reconciliation modes to meet various business needs, single debit/multi-credit reconciliation, 3-way reconciliation and 2-way reconciliation with duplicate reference checks. These options ensure precise handling of complex transaction scenarios.

User-friendly Tools

PS-SPR is equipped with advanced efficiency tools, including a user-friendly interface for transaction analysis with features like pagination, search and filters. It supports single and bulk actions on records, dynamic field creation and value transformation, streamlining workflows and boosting productivity.

Advanced Matching Capabilities

PS-SPR offers advanced matching capabilities that support both 1-to-1 and 1-to-many record relationships. Its intuitive interface categorizes records into matches, mismatches, missing, invalid, duplicate and post-cutoff transactions, enabling effortless resolution of reconciliation issues.

History Tracking

PS-SPR provides detailed account history, including opening and closing balances, available for historical dates to support thorough financial analysis and reporting.

Balance Sheet Validation

PS-SPR ensures robust balance sheet validation by supporting reconciliation with or without associated accounts, removing the need for manual balance calculations. It enforces the settlement of prior balance sheets before processing new ones, maintaining consistency in financial reporting.

Dynamic Data Filtering

PS-SPR can filter records from the source based on the value of pre-defined fields. Additionally, the solution can read encrypted report files generated by Automated Clearing House (ACH) or similar systems.

Customizable Templates and Profiles

PS-SPR offers unlimited customizable templates and profiles, providing flexibility to meet diverse reconciliation needs. This allows users to tailor the solution to their specific requirements, ensuring efficient reconciliation processes.

Purging and Archival

PS-SPR includes an archive and purging feature that ensures effective data management, securely storing historical records while maintaining optimal system performance.

Extensive Reporting Capabilities

PS-SPR offers a comprehensive suite of reporting options, including summary reports, Service-Level Agreement (SLA) reports, aging reports, customized reports and Management Information System (MIS) reports. These diverse capabilities enable in-depth analysis, providing clear insights for effective decision-making.

System-Generated Notifications

PS-SPR supports system-generated email notifications and customizable email alerts, ensuring users are kept informed about important reconciliation updates and events.

Scalable and Robust Design

PS-SPR is built with a scalable and robust design, capable of handling large volumes of data efficiently while maintaining system reliability for seamless operations.

Benefits