ReconArt
ReconArt is a private SaaS provider of cloud-based account reconciliation and financial close management software for enterprise and mid-market organizations across banking, payments, retail, travel, insurance, and microfinance industries, automating high-volume transaction matching and exception management globally.
- Company typePrivate
- Founded2008
- HeadquartersAlexandria, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What ReconArt does
ReconArt is a privately held SaaS provider of account reconciliation and financial close management software, founded in 2008 and headquartered in Alexandria, Virginia. The company's web-based platform automates high-volume transaction matching, exception management, and balance sheet certification for finance and accounting teams. Its product portfolio spans Bank Reconciliation, Credit Card Reconciliation, AP/AR Reconciliation, Securities/Positions/Trades Reconciliation, and Intercompany Reconciliation, alongside a Financial Close Management Platform with task management, variance analysis, and journal entries approval modules. Core technology includes a proprietary rule-driven matching engine supporting one-to-one, one-to-many, many-to-many, and grouping relationships, supplemented by AI-enhanced automation for anomaly detection and the Recon Data Factory (RDF) integration hub. AI Assistant was introduced in 2024 for rule analysis and template configuration.
ReconArt sells to enterprise and mid-market organizations across banking, credit unions, financial services, payments, retail, e-commerce, travel and hospitality, insurance, microfinance, and auto finance. Named customers include MIDFLORIDA Credit Union, Catalyst Corporate Federal Credit Union (serving 1,500+ member credit unions), Pacific North-West Bank ($50B+ assets, 300+ branches), TransferGo, TekSavvy, Calgary Co-op, Think Money Group, Audubon Engineering, and Gathern, with operating presence across North America, Europe, Oceania, Africa, the Middle East, and Asia. Go-to-market is direct enterprise field sales supported by content marketing and case-study-driven demand generation, with implementation partners (e.g., Advanced Business Solutions in the UK) extending mid-market reach.
The business model is annual subscription-based SaaS with tiered editions (Essentials, Plus, Certify, Close, Enterprise) offered via hosted cloud or on-premise deployment, with quote-based pricing. The company operates without disclosed external institutional funding, processes over 30 million transactions daily across its global client base, and runs on Oracle Cloud Infrastructure with Armor Defense providing managed detection and response. Reported customer outcomes include 90% reduction in month-end reconciliation time, 60-80% overall time savings, and ROI achieved within 4-6 months.
ReconArt firmographics
Firmographics- Name
- ReconArt
- Legal name
- ReconArt, Inc.
- Website
- https://reconart.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- ReconArt is a private SaaS provider of cloud-based account reconciliation and financial close management software for enterprise and mid-market organizations across banking, payments, retail, travel, insurance, and microfinance industries, automating high-volume transaction matching and exception management globally.
- Ownership category
- akta.pro rank
ReconArt industry classification
Industry- Product category
- Account Reconciliation Software
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Collections, Recovery & Debt Management Platforms (FSAGAHAI)
Keywords
Where ReconArt is headquartered
LocationHeadquarters
- HQ city
- Alexandria
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
ReconArt business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- SaaS Subscription: ReconArt operates as a cloud-based SaaS platform with subscription-based pricing. The software is delivered as a hosted solution (ReconArt.net) with editions (Essentials, Plus, Certify, Close) and enterprise options. Revenue is generated through recurring software subscriptions with flexible deployment options (hosted or in-house).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Essentials, Plus, Certify, Close, and Enterprise editions available with configurable modules |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
ReconArt product offering
Product offeringCore offering
ReconArt sells a cloud-based SaaS account reconciliation and financial close management platform that automates high-volume transaction matching, exception management, and approval workflows for enterprise finance and accounting teams. The platform is sold in tiered editions (Essentials, Plus, Certify, Close, Enterprise) with modular components for bank, credit card, AP/AR, securities/positions/trades, and intercompany reconciliation, and is delivered as hosted SaaS or on-premise deployment.
Product overview
ReconArt is a web-based account reconciliation software platform delivered as a unified product with modular architecture. The core platform provides high-volume transaction matching, automated exception management, configurable approval workflows, and comprehensive audit trail capabilities. The product portfolio includes specialized reconciliation solutions: Bank Reconciliation Software, Credit Card Reconciliation Software, AP/AR Reconciliation Software, Securities/Positions/Trades Reconciliation, and Intercompany Reconciliation Software. The Financial Close Management Platform serves as an integrated suite combining Balance Sheet Reconciliation and Certification, Task Management, Variance Analysis, and Journal Entries Approval Workflow modules. Additional modules include ReconArt IntelliDoc for intelligent document processing, API for Integration enabling connectivity with external systems, and Recon Data Factory (RDF) for automated data feed management and partner collaboration. The platform is offered through tiered editions (Essentials, Plus, Certify, Close, Enterprise) and includes an AI Assistant feature for rule optimization. The solution supports both cloud (SaaS) and on-premise deployment options.
Differentiator
Problem solved
Functional benefit
Products and services
- ReconArt Account Reconciliation Software Web-based account reconciliation software for automating and streamlining reconciliation processes across banking, financial services, payments, travel, retail, e-commerce, and insurance industries. Delivers high-volume transaction matching, exception management, approval workflows, and audit trail capabilities for enterprise finance and accounting teams.
- Bank Reconciliation Software Automated bank statement matching against GL transactions and internal accounting records; supports multiple bank accounts, various file formats, and real-time reconciliation for daily or period-end close processes.
- Credit Card Reconciliation Software 3-way transactional matching between POS data, credit card provider statements, and bank receipts; supports batch-level and transaction-level comparison for merchant account reconciliation.
- AP / AR Reconciliation Software Automated matching of payables and receivables against GL and sub-ledger records; supports invoice-to-payment matching, automated application of customer payments to open receivables, and journal entry creation.
- Securities, Positions and Trades Reconciliation Automated intraday positions reconciliation for matching internal ledgers and cash transfers against counterparty records; supports break identification, data cleanup, real-time risk visibility, and trade settlement instruction alignment across custodians and brokers.
- Financial Close Management Platform Cloud-based period-end close workflow automation platform serving as centralized repository for month-end close activities; includes balance sheet reconciliation, task management, variance analysis, and journal entry approval modules.
- Financial Close: Task Management Month-end close checklist creation and progress monitoring; automates task assignments, role-based notifications, and completion tracking with real-time visibility into close process bottlenecks.
- Financial Close: Balance Sheet Reconciliation and Certification Balance sheet account reconciliation and attestation workflow; supports configurable templates for GL, Ledger to Sub-ledger, Bank, Pre-paid, Intercompany, and Rollup accounts with full audit trail and compliance readiness.
- Financial Close: Variance Analysis Variance analysis of key period-end balances against previous periods; identifies and tracks balance fluctuations across accounting periods for enhanced financial control and anomaly detection.
- Journal Entries Approval Workflow Configurable approval workflow for journal entries within ReconArt environment and ERP integration; ensures proper GL posting with checkpoints for double entries and technical errors; supports segregation of duties.
- Intercompany Reconciliation Software Automated reconciliation of intercompany transactions and balances across multiple entities; supports complex matching relationships and automated exception management for multinational organizations.
- Recon Data Factory (RDF) Integration and data validation hub that connects to ReconArt via public API; serves as centralized portal for data feed management and partner collaboration; automates file uploads, validation, and scheduled data imports from SFTP, cloud storage, and external systems.
- ReconArt IntelliDoc Intelligent document processing capability for reconciliation supporting documentation; automates data extraction and processing of supporting documents for audit trail and compliance.
- API for Integration Public API connector enabling integration of ReconArt with ERP systems, GL modules, core banking systems, bank messaging interfaces, trading data platforms, and other business-specific internal and external data sources.
- ReconArt AI Assistant AI-powered feature that assists with rule analysis and template configuration; helps optimize matching logic for complex reconciliation scenarios and reduces IT involvement in reconciliation setup.
Quantifiable outcome
- 90% reduction in month-end reconciliation time (from 40 hours to 4 hours)
- +7 more outcomes
Companies that use ReconArt
Customer profileNamed customers17 records
Segments6 records
Ideal customer profiles5 records
ReconArt technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability8 records
Feature5 records
ReconArt partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and regional.
- Armor DefensecoreReconArt selected Armor Defense's Managed Detection and Response services to enhance platform security and compliance. The partnership provides 6X performance capacity and 70% faster compliance across multiple regulations for global clients processing over 30 million transactions daily.
- OraclecoreReconArt runs on Oracle Cloud Infrastructure (OCI) to deliver enterprise-class performance, scalability, and security for its reconciliation platform supporting global financial operations.
- MambucoreReconArt integrates with Mambu cloud banking platform via API, enabling automated data transfer for bank reconciliation. The integration was completed in 2023 with API v.2 development enabling scheduled extraction and transfer of GL data into ReconArt.
- Advanced Business SolutionsregionalAdvanced Business Solutions is a long-time ReconArt partner in the UK that recommended and implemented the reconciliation solution for clients like Holiday Extras.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
ReconArt competitors and assessment
Company assessmentBroad incumbents
- SAP (S/4HANA): Broad incumbent offering reconciliation and financial close capabilities as part of its ERP and group reporting suites. SAP serves the same large enterprise finance organizations and competes with ReconArt where customers seek an all-in-one ERP provider.
- Oracle (NetSuite / EPM): Broad incumbent offering reconciliation as part of its NetSuite ERP and Enterprise Performance Management (EPM) suites. Many ReconArt customers (e.g., TransferGo with NetSuite integration) already use Oracle ERP, making Oracle a key ecosystem incumbent that bundles reconciliation into broader finance suites.
Direct peers
- Workiva: Competing platform in financial close, reporting, and audit-ready workflows. Workiva's cloud platform serves overlapping enterprise finance and controllership buyers and is increasingly expanding into reconciliation-adjacent capabilities.
- FloQast: Direct competitor in financial close management for the mid-market and enterprise. FloQast's close-management workflow, reconciliation, and variance analysis modules overlap closely with ReconArt's Financial Close Management Platform.
- Adra by Cforia Software: Direct competitor focused on bank reconciliation, cash management, and AP automation for mid-market and enterprise customers. Adra's product scope closely matches ReconArt's bank and AP/AR reconciliation modules.
- BlackLine: Direct competitor in cloud-based account reconciliation and financial close management. BlackLine serves the same enterprise finance and accounting buyer with overlapping modules for balance sheet reconciliation, task management, and journal entry approval, and represents the category leader ReconArt must compete against.
- Trintech: Direct competitor in financial close and reconciliation software, with Cadency and Adra products serving similar enterprise accounting teams with comparable reconciliation, certification, and close-management workflows.
Emerging players
- Tidemark (now part of Workday): Cloud financial planning and close management platform, with reconciliation and close capabilities that overlap with ReconArt's Financial Close Management Platform for enterprise customers seeking integrated planning-plus-close solutions.
- Stanchion (Gresham / CATAPULT): Provider of reconciliation and cash management solutions to banks and financial institutions. Stanchion's enterprise reconciliation platform competes head-to-head with ReconArt in the banking segment, particularly for Nostro/Vostro and securities reconciliation.
- Xelix: AI-powered AP automation and reconciliation platform focused on invoice matching and supplier statement reconciliation. Xelix overlaps with ReconArt's AP/AR reconciliation module for finance teams seeking AI-native AP automation.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
ReconArt social profiles
Digital presenceReconArt financial estimates
Financial estimateRevenue estimate
Valuation estimate
ReconArt leadership team
Management profileNumber of profiles
ReconArt funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ReconArt M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ReconArt
What does ReconArt do?
ReconArt sells a cloud-based SaaS account reconciliation and financial close management platform that automates high-volume transaction matching, exception management, and approval workflows for enterprise finance and accounting teams. The platform is sold in tiered editions (Essentials, Plus, Certify, Close, Enterprise) with modular components for bank, credit card, AP/AR, securities/positions/trades, and intercompany reconciliation, and is delivered as hosted SaaS or on-premise deployment.
Is ReconArt a public or private company?
ReconArt is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ReconArt founded?
ReconArt was founded in 2008. It employs 11 to 50 people.
Where is ReconArt based?
ReconArt is headquartered in Alexandria, United States, in the North America region.
How does ReconArt make money?
One revenue line is on record: saaS Subscription.
Who are ReconArt's main competitors?
Broad incumbents on record are SAP (S/4HANA) and Oracle (NetSuite / EPM). Direct peers are Workiva, FloQast, Adra by Cforia Software, BlackLine and Trintech. Emerging players are Tidemark (now part of Workday), Stanchion (Gresham / CATAPULT) and Xelix.
Does ReconArt have an API?
Yes. ReconArt provides a public API connector that enables integration of the reconciliation solution with multiple endpoints including ERP systems, GL modules, core banking systems, and other business-specific internal systems, as well as bank messaging interfaces, trading data platforms, and electronic invoicing providers. The API allows external data delivery and verification, data import automation, and orchestration of inbound and outbound data transfers. RDF (Recon Data Factory) connects to the ReconArt environment via the solution's public API connector. Developer documentation is at www.reconart.com/solution/api-for-integration-of-reconart-with-other-systems.
What industry is ReconArt in?
ReconArt's product category is Account Reconciliation Software. Its primary akta.pro industry code is FSAGAHAI, Collections, Recovery & Debt Management Platforms. Its NAICS code is 5182 and its SIC code is 7372.