Banking Reconciliation System (BRS)
- Customer
- LTIMindtree
- Project manager on the customer side
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- Year of project completion
- 2025
- Project timeline
- February, 2025 - August, 2025
- Project scope
- 15000 man-hours
- Goals
- The primary objective of the Banking Reconciliation System (BRS) project is to significantly reduce manual intervention in the reconciliation process between bank statements and enterprise financial systems. By automating complex reconciliation tasks, the project aims to enhance overall productivity, minimize errors, and accelerate the turnaround time for financial reporting. The system is designed to streamline workflows, allowing finance teams to focus on higher-value activities rather than repetitive manual checks. Ultimately, the goal is to deliver a robust solution that not only improves operational efficiency but also supports strategic decision-making through timely and accurate financial data
- Project Results
- The implementation of the Banking Reconciliation System (BRS) has delivered remarkable results. Manual intervention in the reconciliation process has been reduced by 80%, leading to a substantial boost in productivity for the finance team. The system ensures that only mismatched transactions are flagged for review, enabling faster resolution and more accurate financial records. This improvement has not only streamlined daily operations but also enhanced the reliability and timeliness of financial reporting, supporting better business decisions and compliance.
The uniqueness of the project
What sets the Banking Reconciliation System (BRS) apart is its ability to handle reconciliation across 31 banks, encompassing 161 distinct accounts distributed over multiple countries. Each bank provides statements in varying formats and structures, presenting a significant challenge for standardization and automation. The project’s uniqueness lies in its capacity to seamlessly process this diversity, leveraging advanced logic and automation to reconcile transactions efficiently. This multi-bank, multi-format capability is rare in reconciliation solutions, making BRS a pioneering tool for organizations operating in complex, global financial environments- Used software
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The following tools/Softwares are being used: Snowflake warehouse, Snowflake Streamlit tool (currently being used to build the BRS tool), Python scripting language, Azure Logic apps, SharePoint.
- Difficulty of implementation
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With numerous accounts and corresponding General Ledgers, and different bank charges for different accounts for the transactions, the complexity and uniqueness of this project even further increased. Moreover, there were no keys present in the bank statements to map between bank and sap and therefore the logic applied in BRS tool which is not a regular analytical SQL solution rather its a much more complex solution to handle and automate the reconciliation process.
- Project Description
- The Bank Reconciliation System (BRS) is an automated solution that streamlines reconciliation between bank statements and SAP systems. It eliminates manual effort by automating both reconciliation and un-reconciliation processes, while allowing bulk correction of erroneous transactions with a single click. These corrected batches are reprocessed in the next scheduled weekly cycle.
- Project geography
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The project is global with data ranging across the globe from several countries. For context, LTIMindtree operates in 41 countries and employs over 86,000 people