How Automated reconciliation works for eCommerce
Automated Extraction of Financial Data
Nanonets’ eCommerce reconciliation software starts by automatically extracting financial data from various digital sources, significantly reducing manual entries and potential errors.
Automated Discrepancy Identification
It then identifies discrepancies in the financial data autonomously. By utilizing sophisticated algorithms, Nanonets can identify inconsistencies that could otherwise slip past manual scrutiny.
Automated Reporting
Finally, an automated reconciliation report is generated. This report outlines the financial data, discrepancies if any, and the actions taken to rectify them, ensuring transparency and maintaining a clear audit trail.