Entity Reconciliation Solution
BitCurb provides you with a single enterprise grade reconciliation solution to address your entity reconciliation needs.
What is entity reconciliation?
Entity reconciliation is the process of identifying human errors and data discrepancies, when comparing a set of data records against counterpart data.
The entity reconciliation exists widely across the industries and could be usually recognized as inventory reconciliation, big data comparison, etc.
A good process will ensure:
- Your business operates with accurate data
- No fraudulent activities or theft get by
- Your customers are happy, boosting your reputation and financial revenue
Entity reconciliation challenges
There is no straight forward definition about how the data shall be reconciled. Depending on the industries and the data sources, it might be as simple as matching SKUs or a complex process of addressing multiple data correlations.
If your business is understaffed or dealing with a large amount of data with frequent updates, the manual process becomes a burden.
Comparing data using multiple attributes correlation is a laborious and prone to error process. Investigation of discrepancies and its correction usually starts over the same time consuming validation process.
In some cases the data resides in archaic data sources with very limited capabilities for formatting the the data that is extracted for further comparison. The lack of automation and API integration options raises the total cost of the validation process.
Hotels contract loading data reconciliation
Entity reconciliation can be adopted in the Travel and Hospitality Industry by validating the travel agency’s contract data with the data provided by the hotels.
This data usually includes (not limited to) pricing policy, promotions, stop sales and update rates data.
Travel agencies lose money, when the data they enter in the booking system is inaccurate. The businesses spend lots of money for manual data entry processes and visual inspection afterwards to validate that the data integrity.
Understaffed travel agencies struggle with the data entry process and the process of validating the contracts data, putting additional pressure on the tight deadlines they are working with.
Travel Agencies contracts data reconciliation with BitCurb
BitCurb offers a reliable and efficient automation of the problem, capable of handling millions of transactions in a single execution batch.
The BitCurb’s ETL engine provides flexibility to enhance and modify your data input, which prepares the ground for an accurate reconciliation.
Our robust reconciliation engine supports tailored rules addressing your specific data correlations. You can reconcile your contracts by multiple criteria, creating complex correlation definitions that are specific to your data only.
Our powerful reconciliation API provides unparallel in the reconciliation world possibilities for 3rd party integrations with hotels and agencies systems. You may plug that functionality into your existing products or processes.
Bespoke reporting might be a life saver for your compliance needs helping you quicker to apply the corrections and prevent financial loss.
With our reconciliation solution you can:
- Streamline the process of managing your rates, promotion, updates and stop sales entries
- Compare your travel agency system rates and availability with hotel systems to quickly identify discrepancies before occurring any financial loss
- Identify quickly any data discrepancies, classify, investigate and correct
- Boost customers satisfaction and reputation
- Cost optimize your process saving on staff responsible for laborious manual processes
- Leverage BitCurb API to integrate with external hotel & travel agent systems, ERP, POS and accounting systems
Where BitCurb stands out:
- No IT Staff needed to operate our solution
- Building custom reports to meet your regulatory requirements and compliance needs
- Host in your data centre or use in secured cloud meeting all security standards
- Full auditability
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