The RISE engine, a unique technology of Modern Treasury, powers reconciliation by relaying, integrating, structuring, and improving financial procedures. These innovations allow businesses to reconcile accurately and efficiently on a large scale.

According to Matt Marcus, Chief Product Officer and Co-Founder of Modern Treasury, "reconciliation at scale is a huge challenge for companies with complex payment flows, and these hurdles can negatively impact cash visibility, auditability of payments, customer experience, and company performance." "With our platform, we have processed over $100 billion in payments, and this volume has allowed us to observe firsthand the reconciliation difficulties that our biggest clients have.With the use of artificial intelligence (AI) and our improved reconciliation product, we're transforming financial workflows to increase productivity and reduce the risk associated with large-scale manual reconciliation.

Important Improvements to Reconciliation Consist of:

AI-driven data intake. Users can easily construct data pipelines for smooth data mapping and normalization with AI's help. For manual tasks, you can access these data pipelines by CSV upload; for automated tasks, you can use an API.

AI-driven rules and match recommendations. Reconciliation speed is increased by AI's suggestions for match and reconciliation rules. The company's dataset contains patterns that can be recognized to speed up automation and achieve 90%–100% reconciliation rates.

Customize the rules. Without creating a single line of code, businesses may establish reconciliation rules depending on specified parameters.

Account synchronization. Teams can speed up reconciliation by using account reconciliation to find and fix discrepancies between their ledger and accounts.

The reconciliation tool from Modern Treasury is now essential to our day-to-day business. As money enters our accounts, it guarantees that we're always informed, which enables us to pay agents on our platform promptly and precisely, according to Katie Castro, Director of Payments at Side, a prestigious real estate brokerage platform.