NEXUM Bank Reconciliation

The Bank Reconciliation module imports bank statements into NEXUM, analyses incoming payments and allocates them to the correct accounts automatically. Configurable matching rules drive a high straight-through processing rate, and any payments that cannot be allocated are presented to operations as exceptions for review. The routines for handling unallocated payments are themselves configurable, so each organisation can encode its own policy.

The benefits are felt across finance and operations. The manual hours typically spent on cash allocation each day or week are dramatically reduced. Cash posting accuracy improves because rule-based allocation eliminates many of the keying errors that occur in manual processes. Aged unallocated cash, which can hide reconciliation problems and inflate balance sheets, comes down quickly. Finance teams gain time at month-end because the bank book is already in shape. Customers receive fewer queries about payments that appear missing, because they are not missing for long. The audit trail is comprehensive and supports both internal controls and external audit. For finance leaders looking to reduce cost-to-serve in back-office operations, this is one of the highest-impact modules.