How AI-powered transaction matching is changing account reconciliation processes

What are the benefits of transaction matching software?  

Implementing transaction matching automation software can have a significant impact on your team’s efficiency and accuracy. Here are some key benefits:  

• Faster close cycles: Shave days off your close process by removing bottlenecks and automating one of the most time-intensive tasks.  
• Unburden your team: Eliminate repetitive work by automatically identifying, validating, and matching transactions so you can focus on higher value tasks and lower operational costs.  
• Trusted data: Reduce human error and improve data consistency with intelligent matching that adapts to your organization's specific patterns for better decision making.
• Better audit readiness: Maintain a detailed, system-drive audit trail that makes it easy to trace match decisions, justify expectations, and meet compliance standards  
• Scalability and future-proofing: While point solutions like FloQast or Blackline may address Account Reconciliation, platforms like Prophix One allow teams to start with transaction matching and expand into budgeting, forecasting, and reporting to provide you the full picture within a unified environment.  

Transaction matching software isn’t just about automation; it’s about creating a faster, smarter, and more resilient close process.  

How does AI help with transaction matching?

What takes transaction matching software up a notch is the use of AI. Artificial intelligence is changing the way finance teams approach reconciliation – and Prophix One Intelligence is leading the way. Unlike traditional rule-based tools that require extensive setup and ongoing maintenance, AI adds another level of intelligence, flexibility, and continuous learning to the matching process.  

Here’s what sets Prophix One’s AI-powered transaction matching apart:  

• Learns from historical decisions: The system adapts to your unique matching patterns over time.  
• Highlights risks: Automatically flags high-risk transactions and unmatched items that require attention so you can prioritize what matters most
• Match confidence scoring: Gives your team transparency into why a match was made and how confident the system is in the outcome.  
• Continuously improves reconciliation workflows: As AI improves matching performance, the overall reconciliation process becomes faster, more consistent, and easier to manage.

Blackline

Blackline is an enterprise grade transaction matching tool within the broader financial close management suite.  

Best for: Large organizations with complex financial operations and high compliance needs.  

Features:  

• Rule-based matching logic
• Standardized reports and dashboards  
• Risk-based reconciliation  
• Audit ready documentation  
• Integrated workflows and approvals  

Integrations: SAP, Oracle, Microsoft Dynamics, Sage Intacct, and more

Pricing: Pricing is customized based on organization size, feature scope, and implementation needs.  

FloQast  

FloQast transaction matching solution is built into FloQast’s close automation platform, leveraging AI to accelerate reconciliations.  

Best for: Accounting teams at small to mid-sized organizations looking to modernize reconciliation.

Features:  

• AI-based matching engine  
• High volume processing  
• Rule creation  
• Exception handling  
• Audit trail
• Multi-source integration  

Integrations: QuickBooks, Oracle, Microsoft Dynamics, and more.

Pricing: Pricing varies based on company size, number of users, and selected modules.