Digitally transform your finance systems
- 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
- 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
- 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
- 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
- TBF Consulting can deliver rich reports from any source, using PowerBI
- Reports can be:
- 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.
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?
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.