Reconciler™ — Overview
Reconciler™ is proven. Our solution is being used by North American Class I railroads. They report the following.
- Contract/agreement management is significantly simplified
- Litigation and settlement disputes are drastically reduced
- Financial exposure is effectively controlled
- Multi-year planning and budgeting processes are streamlined
- Valuable agreement negotiation support is provided by its contract performance simulation capabilities
- Integration with financial and accounting systems is seamless
- Regulatory report submission is streamlined
They are so pleased with the product's performance in interline agreement portfolio management that they've decided to also use it to manage their customer contract portfolio as well.
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Reconciler™ automates the reconciliation function using digital processes to link all pertinent information (e.g. yard timesheets, UMLER, maintenance and work order records, car and train events, waybills and freight bills) to contract/agreement terms and conditions.
Reconciler™ strikes the right balance between value of use and ease of use. Unlike other products in the market, with Reconciler, users avoid the need to learn any cryptic codification. It is designed as a full function desk-top, end-user tool for railroaders, similar to spreadsheets, word-processing or email. The product's resulting scripts are easy to read and highly auditable. They are meant to be understood by multi-functional teams e.g. interline management, administrators, accounting, legal, etc. A user-friendly interface provides basic point-and-click and drag-and-drop commands in the users' own business language, without losing any of the original contract/agreement context.
Whatever supporting transaction data railroaders have, Reconciler™ can reconcile that data against any set of rules.
- It handles all kinds of operational or service agreements. It tracks contracts and revisions from cradle-to-grave using effective-date and expiry-date timestamps.
- No matter how complex the contract/agreement might be, if it can be articulated, agreement administrators, using Reconciler, can easily reconcile all related events and financial transactions, on demand, and access a detailed audit trail.
- Imagine volume- and traffic-incentive contract terms with complex year-to-date and rate schedule considerations being easily and accurately managed, while providing a full audit trail. No more manual reconciliation of agreement related invoices based on fragmented reports and query results from various legacy sources and spreadsheets.
Technology providers and the railroads themselves have invested in and developed sector specific solutions including car and train event tracking, freight bill handling, data sharing and funds transfer. Reconciler™ bolts on to existing systems and leverages those investments by:
- Extracting more knowledge and insight from data already generated by existing systems
- Addressing challenges related to management of financial exposure
- Improving the accuracy of settlements
- Integrating seamlessly with back office, payables and receivables
- Reducing time and resources dedicated to agreement settlement, dispute resolution and litigation.
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Reconciler™ bolts onto existing systems, data and system architecture to provide accurate reconciliation. It is not intrusive to in-house architecture and "blends in" with information technology environments.
The product is based on industry best practices and designed with "openness" and low cost of ownership in mind. It runs on a popular affordable technology platform. Its output supports industry open standard format and it seamlessly integrates with back office or ERP systems.