Automated Account Reconciliation to Reduce Costs
Running the financial operations of a government organization requires accuracy, security, and compliance as top priorities. Citizens count on your services, and you trust that your account reconciliation software drives efficiency across your organization.
Manual processes, along with payment reconciliation, often lead to:
- Costly errors from inaccurate manual data entry
- Higher operational costs
- Slow revenue collection
- Stressful workloads on teams
Reconciling every transaction across all payment channels for your agency is an overwhelming, ineffective, and outdated practice.
By transitioning to an automated account reconciliation solution for your government agency, CORE delivers an end-to-end solution for inconsistent accounting, heavy workloads, and expensive errors.
How CORE Helps Your Team
CORE delivers a consolidated platform designed to accurately automate acceptance, processing, and reconciliation for all citizen-related payments.
For Treasurers
- Track transactions reliably and avoid compliance errors
- Speed up reconciliation to general ledgers and accounts
- Connect existing financial systems to automated processes
For Budget & Finance Teams
- Improve granular reporting accuracy of end-to-end revenue
- Reduce risk and resources spent on manual data entry of transactions
- Eradicate PCI-related risks and streamline compliance management
For Comptrollers
- Increase on-time collections and revenue flow
- Manage PCI properly and securely
- Increase visibility into the complexities that come from manual data entry
CORE’s integrated platform is the solution for a connected, accurate, and secure payment system.
The Benefits of Integrated Payments
Switching to an all-in-one platform for payment processing radically improves time to revenue for local government agencies.
Control Costs
CORE significantly reduces the expense of managing multiple merchant banking access points and relationships. With seamless integration into your billing system of record, CORE helps to control the costs of processing transactions.
Measure Data
The ability to accurately measure data is a critical lifeline for any organization. Rather than relying on manual reporting (subject to human error), use the accuracy of automated reconciliation. By improving the accounting processes of governmental departments, you gain granular visibility into every level of activity.
Accelerate Processing
Slow processing times can be a bottleneck for time to revenue. With CORE, you can centralize payment acceptance. Processing and reconciliation within a single platform make revenue attainment faster than ever without sacrificing processing time or security.
Reduce Effort
Automating reconciliation can reduce your back-end effort in accounting and processing daily transactions, allowing them to spend more time on high-value tasks and projects.
“Online payments are way more efficient for my office. We save a lot of time and effort not having to open an envelope and scan the check, enter all the information manually and then deposit the check. And, because CORE is integrated with our tax accounting software, we can download a whole batch of payments directly into our system.”
Chris Kauffman, Treasurer | Grand County - Utah
Discover the Solution
Are you looking to improve the reliability of your account reconciliation systems? Book a conversation with our team today and learn how we can better save your team time, effort, and resources with automated reconciliation.
Additional Resources
This blog post which explains the pros and cons of payment reconciliation.
Check out this eBook to determine which features your customizable secure payment system needs.
Learn why modern, digital payment system make sense for your customers and financially for your organization.
Watch our on-demand webinar to learn how CORE helps you achieve end-to-end accountability for your organization.
Use this checklist if you are planning to transition to a digital payment experience for your constituents from an outdated physical payment system.
