Reconciliation

When organizations maintain data in multiple locations, how can they ensure that the source data as well as any changes or updates are consistent across all of the systems involved? When data warehouses access records from several different enterprise-wide systems and store them centrally, one question stands out: can the enterprise be sure that the quality of its data has not deteriorated at one or more stages in the process? Similarly, any organization involved in the extraction, transformation, and loading (ETL) of data is faced with the same question: how does an organization identify data degradation resulting from technical failures (for example, loss of network connectivity), inconsistent or non-coherent source data, and numerous other potential problem areas? This question increases in significance considering how much more difficult and expensive it is to fix data quality issues the longer they go without being addressed. A prevalent, current example of the need for automated reconciliation is the legal requirement for mortgage processors to keep their data in synch with mortgage registration systems. The amount of personnel resources typically required to comply with this directive demands an intelligent, automated solution.

i/RECON™, ISI’s data reconciliation solution, offers a smooth, reliable data management process to help organizations compare and maintain documents and data from multiple sources. Powered by our advanced processing capabilities and unique multi-million word knowledgebases. i/RECON analyzes, parses, and corrects data from all of the sources; flags and corrects variations, errors, and misspellings; and validates and automatically updates addresses against official postal data sources. i/RECON’s unparalleled ranking methodology delivers exceptional accuracy when comparing two records — even when information may be missing or inconsistent — and provides a highly accurate and uniform solution to the problem of quickly and easily establishing and maintaining a reliable document reconciliation process.

i/RECON’s automated, best-practices methodology:

• Promotes collaboration


• Improves workflow efficiencies


• Minimizes the time required for manual review of documents


• Reduces the high demand for manpower caused by the failure to automate


• Utilizes highly accurate filtering to limit the number of records requiring review


• Enhances business users’ ability to create and enforce rules regarding the privacy of sensitive information


• Allows users to accurately discover, measure, and monitor data elements via dashboards, files, and/or reports


• Incorporates a Case Management Tool that allows users to manually review exceptions, specify the action required, and maintain a comprehensive audit trail to comply with regulatory requirements

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