BRS Auto Reconciliation Implementation - NBFC

Fast-growing NBFC in India, was facing significant delays and manual effort in reconciling high-volume bank transactions across multiple accounts. Goal is to automate the Bank Reconciliation Statement (BRS) process using Fusion Applications to improve efficiency, accuracy, and compliance.
Not only automated our reconciliation but also helped us standardize financial governance across our banking operations. The turnaround was impressive.
Challenges

Manual Reconciliation Process: Heavy reliance on Excel for tracking UTR numbers, leading to delays and errors.

Complex Bank Formats: Bank statements received in MT940 format with inconsistent reconciliation references (Tag 86).

High Volume of Transactions: 1000+ daily transactions across multiple banks and business units.

Lack of Audit Trail: Difficulty in tracking adjustments and exception handling, posing compliance risks.

Solution Delivered

Oracle Fusion Cash Management Configuration

  • Enabled Auto Reconciliation Rules, Mapping Sets, and Tolerances
  • Defined Parse Rules to extract UTR numbers from MT940 (Tag 86).

Advanced Reconciliation Logic

  • Built multiple matching rule sets for:
    • One-to-One
    • One-to-Many
    • Multi-line Reconciliations

Upstream Integration Support: Ensured consistency in UTR data to match Oracle transactions.

Testing and Validation: Designed over 30+ real-world test cases simulating reconciliation scenarios

Key Highlights

Auto BRS Execution

Reduced reconciliation cycle from 3 days to < 1 day

Clear Audit Trails and Exception Logs in Fusion