Powerful Financial Data Reconciliation
Consolidate Data for Better Budget Analysis
A new approach, harnessing the latest machine learning technology for better budget performance management
Meaningful budget data reconciliation
Budget data consolidation is difficult. In the hands of spending departments, budgets take on a life of their own and even minor changes, for example, to the Chart of Accounts, can invalidate financial data. This complicates performance management and reporting.
Hamilton Core is a suite of Cloud-based software services specifically designed to automate data collection from source systems, i.e., Agencies, and to reformulate the data for incorporation directly into the central budget systems. This enables regular monitoring and avoids the rush to reconcile data end-of-year, when it’s too late to correct any errors.
Budget Data Reconciliation
We call our financial data quality framework a Budget Data Reconciliation Engine.
Hamilton Core implements intelligent machine learning algorithms that allow your smart people to continuously review and improve the budget data mapping rules.
This approach promotes computer aided data quality enhancement that is easier to consistently maintain over time.
A better mousetrap
We have applied very advanced computer technology, i.e., machine learning, which allows computers to become very good at recognizing patterns, i.e., looking for budget data to reconcile.
In addition, we have also incorporated a plug-in framework designed to acquire data seamlessly from many computer systems and a smart workflow process that enables just-in-time data review. The combined application of these modern computer technologies allows Hamilton Core to accurately and consistently retrieve source data from spending departments and map it to the central budget management system.
Originally designed to arbitrate data flows between financial and budget systems, Hamilton Core facilitates budget management and performance reporting.
Using the latest, innovative and high-performance technology, Hamilton Core will learn to map budget data between locations – identifying issues that need review by a user, and making matching decisions for itself where it can. Over time the amount of human intervention will dwindle to almost nothing, and your data will always be consolidated and up to date.
In addition, every mapping decision made, either by human or by the Hamilton Core software, will be logged and recorded, so at any point you can go back and fix matching issues and Hamilton will automatically find and correct the related data and/or flag it to be re-evaluated by the machine or by another user.
If you'd like to download a product overview paper - click on the PDF icon below; and if you'd like more information, please contact our team and we'll guide you through the rest.