Gresham Computing plc, a provider of transaction control solutions, announced today that Jones Lang LaSalle (JLL) has selected Clareti Transaction Control (CTC) to increase the level of automation in matching and allocating incoming receipts for its UK property management business.
CTC, which is due to go live early this year, is expected to deliver significant efficiencies to Jones Lang LaSalle by automating key stages of the current matching and allocation process. Early trials demonstrated immediate automatic match rates for incoming bank receipts to outstanding rent demands, invoices and similar outstanding amounts (open items) in excess of 50% with little configuration. CTC was then configured with simple business matching rules that lifted the matching rate above 75%, allowing Jones Lang LaSalle to gradually move towards significant levels of automation at the right pace for the business, without compromising existing processes.
Initially CTC allows for the enhancement and enrichment of incoming bank receipts, identifying the paying customer and drawing out information from the message to assist in the later allocation and matching process. CTC then facilitates assisted matching, whereby CTC enhanced and enriched bank receipts are matched to open items, with the results exported or printed for use in the existing process. CTC’s full functionality allows the importing of bank receipts, matching to imported open items and exporting results direct to a target ledger.
“Property managers face a multitude of problems in quickly and accurately matching and allocating incoming bank receipts to debtors primarily because of the quality of information contained in the incoming bank receipt message,” explained Chris Errington, CEO Gresham Computing. “CTC allows Jones Lang LaSalle to automate these processes and increase Straight-Through Reconciliation (STR) rates, allowing staff to focus on resolving any exceptions that arise. Ultimately it will allow Jones Lang LaSalle to match payments faster, quickly identify and follow up on short or non-payment, and thereby minimise risk and ensure they deliver the best possible service to clients. This win further demonstrates the increase in demand we are seeing today for Gresham’s modern and innovative solutions.”
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