Digitally transform your finance systems

Reconciliation

• Real time ongoing system to system reconciliation
• Integrates multiple systems
• Transaction system to payment gateway to finance system
• Ensures robust reconciliation
• Displays human readable business rules
• Transparent
• Simplifies ANAO audits
• Unlimited transaction capacity. In the billions

Blockchain – Fraud Prevention

• Saves transactions to the blockchain.
• Transactions can’t be tampered with
• Fraud is prevented
• Expensive anti-fraud measures are redundant
• This is a legitimate use of blockchain’s distributed ledger technology

Problems solved

• Very expensive system integration builds eliminated
  • Reduced from months to 1-2 weeks
  • Huge cost reduction
• No Manual reconciliation
• End of period reconciliations eliminated
• Reconciliation errors captured.
  • Missed transactions

Future Roadmap

• AI implementation to deliver predictive reconciliation prevention

How does it work?

• Our proprietary, configurable, finance specific rules engine, allows super fast implementation of customer specific, payment and financial record management logic.
• Continuous system to system polling, ensures no transactions are orphaned and exceptions are identified immediately.
• Event based design allows resubmission of transactions, in the event of connectivity loss

Where is it installed?

• TBF-FIS is installed (cloud or on premise)
• An adapter is built and/or API’s utilised to connect the organisation systems to TBF-FIS

Reporting

• TBF Consulting can deliver rich reports from any source, using PowerBI
• Reports can be:
• Real-time
• Ad-hoc

Benefits Summary

• Super rapid, low cost build. 1-2 weeks compared to months or years for bespoke integration development.
• Customisable rules engine means your rules are implemented, not the software providers.
• Fraud proof.
• Real-time reconciliation.
• No more lost transactions.
• Massively reduced error rates.
• Audit proof.

FAQ

Q: Who needs this product?

A: Every organisation taking or making payments. Particularly where strong oversight and governance is required

Q: We have Oracle/SQL Server already, doesn’t this make TBF-FIS redundant?

A: No. We can install our software to sit in between systems and communicate with the source financial system, or can handle reconciliation on its own.

Q: We have SAP, Finance One already, doesn’t this make TBF-FIS redundant?

A: No. See the previous question.

Q: Can your product split payments, or handle complex milestone payments?

A: Yes, our rules engine can handle complicated scenarios, such as these.

Q: Can it keep track of funds spent and outstanding, for a grant or contract?

A: Yes.

Q: What if we don’t want or need Blockchain?

A: Blockchain is not mandated, but it adds a very a strong extra layer of financial security.

Q: Haven’t blockchains been hacked?

A: No, that’s the clearing houses for Bitcoin and other blockchain entities. The distributed nature of blockchain transactions mean they can’t be tampered with.