Major appliance manufacturer picks SmartStream for data reconciliation

Software-as-a-Service (SaaS) provider SmartStream Technologies has been tapped by New Zealand-based appliance manufacturer Fisher & Paykel to automate its finance division’s data reconciliation processes.

SmartStream Air automates manual data reconciliation processes

The firm will integrate SmartStream’s Air platform with its existing systems to help perform analytics on reconciled data and glean additional business intelligence.

Fisher & Paykel hopes the cloud-native SaaS offering will help automate its currently manual reconciliation operating model, boost productivity and support its global expansion plans.

SmartStream says the Air platform leverages AI to autonomously build and learn data matching behaviour, reducing the time it takes to perform data reconciliation.

Fisher & Paykel’s senior corporate controller Nicole Adamson comments: “We needed to move away from the manual operations to an automated data reconciliation model, which eliminates operational risk, whilst being able to scale volumes more cost-effectively.

“We felt SmartStream Air was the right choice to help us achieve this objective.”

SmartStream’s global head of business development Victoria Harverson says the partnership reflects the fintech’s “deepening footprint” in New Zealand.