How can our technology be used to automate other manual reconciliation processes?
October 25, 2020
Our platform, the Aquilon Network, connects energy settlement teams and automates invoice reconciliation. The reduction of errors and improved efficiency through automation has saved our customers countless hours and has made finding discrepancies significantly easier.
As our team grew the Network by connecting producers, utilities, and large energy companies, we learned that our customers need for perfectly matched data goes beyond reconciling invoices.
We are excited to announce that the technology that powers the Aquilon Network is now able to automate almost any other manual data reconciliation process!
Introducing CARLI - Capture, Automate, Reconcile, Learn, Inform
CARLI is a flexible digital toolset that can automate data reconciliation. With CARLI, we can quickly build applications that format and match data based on your business requirements.
Here is what the workflow can look like:
We can take any digitized PDF document or file type and convert it into standardized tabular data. Our advanced AI matching algorithm then matches the standardized data to any source data set. The reconciled data is delivered in whatever format you need and is ready to inform business decisions or be imported back into your source system.
This toolset is highly customizable for the processes and systems you have in place. No implementation or IT integration is required, and onboarding can take as little as a week to have your team up and running.
Some of the benefits to using the CARLI toolset:
- Increase operational efficiency while reducing errors
- Promote data standardization
- Reduce operational risk
- Identify variances in real time
CARLI in the real world
CARLI offers endless opportunities to optimize back office data functions. CARLI can be used to digitize reports, PDFs, excel documents, etc. and synthesize into a single spreadsheet. Then the standardized data is matched with other source data from places such as EBBs and you can identify any variances in real time.
A few examples:
- Pipeline reconciliation
- Bills of lading
- Park and loan
- Bilateral invoices
- Broker statements
- Complex confirmations
Operate with a smaller, more agile team
In addition to enhanced data quality when processed with CARLI, the automation of manual work also allows for a more efficient middle and back office. CARLI makes data reconciliation significantly faster for your team, allowing more efficient resource allocation. It also helps analysts and others in the business make quicker decisions because data can be compared in real time. When we digitize our processes and how data is reconciled, it also enables better decision making.
Ready for a demo?
Our demo can help you see in real-time how this tool can work for your business.
Michael joined Aquilon 3 years ago. Michael brings consulting experience and passion for building strong teams in order to create tangible solutions for customers. Michael is responsible for Business Development, Account Management, and Onboarding new customers here at Aquilon as our Director of Customer Success. Michael enjoys spending his free time with his family of two small children and loving wife.