Optimize Peer-to-Peer Intercompany Reconciliation Over the Web

Intercompany reconciliation is often cited as one of the most significant barriers to a fast and accurate financial close process. Intercompany, the world's leading peer-to-peer intercompany reconciliation application, enables business units to reconcile intercompany balances in real time via the web and allows corporations to close faster. It provides the tools for business units to debate and reconcile balances directly with one another, eliminating extra work and delays at the corporate and divisional levels. This removes intercompany reconciliation from the critical path, both improving the speed and accuracy of the closing process. Using Intercompany, companies achieve rapid return on investment (ROI), up to 60% improvement in the accuracy of intercompany transactions, and save on average 15 days in reporting cycles.

Speed and Accuracy in the Financial Close

Web-Based, Peer-to-Peer Intercompany Reconciliation
Intercompany introduces a web-based, peer-to-peer communication channel between those reporting units posting intercompany balances and transactions against each other. This lateral flow of information and automatic matching ensures faster agreements, thus easing the burden on corporate finance and eliminating days from the time-consuming closing process.

Real-Time Reconciliation Views
A web-based system manages all data submitted to the central server delivering a real-time overview of the intercompany reconciliation process as well as adherence to deadlines, corporate policy, and timelines, regardless of the reporting unit's location or time zone.

Invoice-Level Matching, Commentary, and Attachments
Matching is automatic and can occur at the balance or invoice level, with the option to attach comments or other documents to facilitate more efficient communication. It's performed in either local reporting or transaction currency, with built-in support for multiple languages.

Greater Control, Lower Cost

Full Audit Trail and Reporting
Intercompany offers a complete audit trail, highly sophisticated status tracking, email summaries, and alerts on significant events, as well as a comprehensive set of reconciliation reports that allow individual reporting units as well as corporate headquarters to fully automate and follow their global intercompany process.

Full Process Monitoring
Intercompany allows your corporate or divisional headquarters to continuously monitor the collaborative matching process using centrally defined exchange rates and materiality levels and dedicated reconciliation views—delivering at-a-glance status of the global reconciliation process as well as end-of-cycle freezing, which prevents users from making additional changes.

Centralized Data Maintenance
A centralized web deployment guarantees rapid implementation, ease of use, and ease of maintenance that, when combined with a highly intuitive user experience, drives down total cost of ownership to further increase user acceptance and ROI.

Integration, Performance and Security

Integration With Source Systems, and Financial Consolidation Systems
Intercompany offloads the reconciliation burden and positively impacts the financial consolidation process by allowing for centralized management of companies, accounts, and currencies—ensuring they are always updated and taking into account any changes occurring in the source or consolidation system.

Ability to Push Adjustments Back to Source System
Adjustments made to balances can be stored and used to create journals to update source systems—ensuring consistency between source, reconciliation, and consolidation systems.

Robust Security, Performance, and Scalability
Intercompany provides centrally managed and easily configured access rights and is compatible with existing security infrastructure investments such as firewalls, public key infrastructures (PKIs), Secure Sockets Layer (SSL), and virtual private networks (VPNs). It also leverages Microsoft .NET and RDBMS support for Oracle and Microsoft SQL Server for improved scalability and performance.