Finance
Bank Statement Reconciliation Workflow
A representative finance workflow showing how structured extraction, review, and delivery can reduce manual document handling.
This is an example workflow based on common document processing requests, not a named customer endorsement.
The Challenge
Cornerstone Capital Management, a $2.3B financial services firm, struggled with monthly bank reconciliation across 47 client accounts.
- ✕Multiple banks, currencies, and asset types across 47 accounts
- ✕Manual matching of PDFs and CSV exports against internal ledgers
- ✕160+ hours monthly spent on reconciliation
- ✕Month-end close delayed to the 15th instead of required 5th
- ✕Discrepancies discovered late, sometimes after client statements mailed
- ✕Auditors flagged reconciliation gaps as material control weakness
The Solution
DataConvertPro automated the entire bank statement ingestion and matching workflow.
- ✓Extracts data from PDFs, CSVs, SWIFT files, and proprietary bank exports
- ✓Normalizes all formats into a standardized schema
- ✓Intelligent matching using amounts, dates, reference numbers, and counterparty info
- ✓Flags unusual transactions, splits, and reversals for human review
- ✓Machine learning improves accuracy from previous reconciliations
- ✓Real-time NetSuite integration with automated journal entries
Potential Outcomes
Monthly workflow
Estimated Time Saved
Balance checks
Review Target
Multi-bank PDFs
Example Volume
✓
Bank statement PDFs can be normalized into one spreadsheet format
✓
Recurring monthly batches can reuse the same column schema
✓
Review can focus on ambiguous rows and balance checks
✓
Delivery can support CSV or Excel depending on the accounting workflow