AI-Powered Close Automation
Automate closing activities and reconciliation Using our AI platform to reduce risk and accelerate financial Close
Audit-ready accurate financials without the grind
Trigoto acts as your AI-assistant across the entire accounting lifecycle, taking work like balance sheet recons and uncovering drivers of variance in flux analysis off your to-do list. Your lean team can spend less time on the manual, and more time on the impactful.
Process
1.
Our AI platform’s algorithms can automatically extract and process data from bank systems and the company’s accounting records from ERP’s. This includes identifying and categorizing transactions, and matching them across the two sets of records.
2.
Our AI platform can be trained to identify discrepancies between the bank and company records automatically. This includes identifying missing transactions or amounts that do not match And also categorizing discrepancies based on their nature and source.
3.
Our AI platform can also suggest adjustments that need to be made in the company’s records to rectify the identified discrepancies. This can include suggesting new entries that need to be made or existing entries that need to be modified.
4.
Over time, our AI platform’s algorithms can learn from the adjustments made and improve their ability to identify discrepancies and suggest adjustments. This can help in reducing the time and effort required in the reconciliation process in the future.
5.
Our AI platform can generate reports highlighting the discrepancies identified, the adjustments made, and any other relevant information that might be needed for audit or compliance purposes.
How it works
Front end system view has Matching Dashboard displays, volume of transaction from source systems- reconciled and unreconciled output.
After all the matching rules has been run, matching dashboard displays unreconciled bank records.
Transactions that failed to match are subject to further review. Each unreconciled line item can be investigated on our AI platform to determine the cause of the discrepancy and rectify it.
User can drill down both set of transactions in the system, can select a specific unreconciled transaction from both the sources (CBS & SAP) and investigate the difference along with many other things.
