Our Modular Approach
Sonas’ reconciliation solutions create a streamlined workflow on a single platform to track and verify both digital and cash transactions. Sonas can track your cash journey from capturing data at the source to reconciliation through to reporting, improving transparency, efficiency and profitability.
Data Capturing
We are using the methods provided by the system, such as Mobile Capture (using our OCR app), Data Import and Manual Entry capture source documentation of cash collections right at the point of entry, providing complete transparency.
For review and investigation, we will utilise documents such as audit tickets and bank statements in our Reconciliation solutions and Exceptions modules. We will then extract this Data into our real-time Reporting and Analytics module.
Reconciliation Modules
Digital Reconciliation
The Sonas reconciliation engine allows you to match off and reconcile a multitude of digital transactions from multiple data points in seconds. You can efficiently complete tasks such as identifying genuine exceptions when reconciling your various payment channels.
Cash Reconciliation
We understand the struggle to reconcile the cash collected from your parking machines. That is why through our Cash Reconciliation module, you can enjoy real-time automated validation of your cash journey, providing complete transparency, detailed reporting, and analytics. Exceptions are quickly identified, investigated, and resolved with your entire cycle recorded.
Overall Reconciliation
Gain a transparent and holistic overview of your parking devices, with a reconciled and valuable overview of your combined digital and cash transactions in real time. Therefore, experience a new level of transparency, allowing you to make timely, informed, strategic, and operational business decisions.
Exceptions identified across these modules flow directly into the Exceptions Management modules, where the results are tracked and recorded in real time by our Reporting and Analytics module.
Exceptions Management
Enjoy improved efficiency of exception handling with our Exceptions Management module. We can help you increase the flow of communication, enable electronic sign-off and gives you easy access to integrated source documentation to aid the investigation. Additionally, alerts are sent to relevant parties when there are updates.
The Reporting and Analytics module provides detailed tabular and visual reports based on a number of factors relevant to the identification and investigation of exceptions in the system. These include graphical representations of the root causes of exceptions, the current status of an exception and more.
Claims Management
Investigate and resolve claims, handle the settlement process, record payments, and access a complete audit trail on one platform. This module also offers a customer portal to improve communication and resolution efforts with increased transparency.
Similarly to the Exceptions Management module, a wide range of information and data regarding current claims is immediately available. Moreover, in real-time within the Reporting and Analytics module.
Reporting and Analytics
Our reconciliation solutions transforms the immense volume of data collected by our system and creates powerful visual analytics. Our reporting is value-driven and offers increased data-based decision-making capabilities. Now, you can enhance your ATM estate’s operation and manage your KPIs to achieve greater business success. Improve business performance with powerful real-time analytics, using trend analysis and detailed reporting insights provided by Sonas.
As a result, the Reporting and Analytics module showcases the interconnectivity of all aspects of the system as a wide range of data from each module is available across several representations.
The Benefits of this Approach to Reconciliation Solutions
So, the benefits of our modular approach are numerous and provide straightforward solutions to many of the issues other reconciliation methods face. Having all of the aforementioned modules in one place results in:
Reduced Risk and Claims
Minimise fraudulent activity by recording the reconciliation process, giving you total control and transparency over your cash journey. Track digital and cash transactions, monitor investigations and manage claims in real-time.
Decrease Costs
Reduce physical infrastructure costs through global access to the cloud, supporting remote working and more. A consolidated platform gives you the advantage of automation and synergy between departments, a higher rate of productivity, and reduced personnel costs.
Increase Efficiency
So, automated reconciliation allows your staff to focus on performance and provide seamless communication between internal departments and third parties. Source documentation and data portals enable faster investigation and resolution of exceptions and claims.
