A leading commercial and retail regional bank and provider of lending, mortgage, and trust services reached out for Veracity BlackLine expertise.
01.
The Challenge
The client needed to automate numerous, daily account reconciliations consisting of high-volume transactions with the objective to eliminate manual efforts, reduce risks, enhance visibility and gain immediate and longer-term efficiencies.
02.
What We Did
- Assessed existing account reconciliations, data, and matching logic for potential automation
- Utilized upgraded and advanced product features to configure complex logic in data import and match set configurations
- Prioritized and sequenced 30+ account reconciliations encompassing 50+ data extracts
- Developed phased implementation and rollout plan for data import and match set configurations
03.
Our Impact
- Established portfolio approach to develop an overall matching and data design framework to then sequence and manage the implementation of multiple match sets and data extracts
- Maximized efficiency gains with configurations of data imports and match sets at client’s pace
- Enhanced visibility and simplified reporting to reduce risks, identify errors, and facilitate audits
- Equipped client team to perform additional matching implementations as part of their ongoing improvement efforts
