PeopleSoft Treasury Auto Reconciliation Enhancements
Hennepin County has been a long-time client of Elire since 2011. Previously, Elire has completed PeopleSoft HCM projects and Treasury work. In 2022, Elire conducted an assessment of Hennepin County’s treasury systems and practices, leading to recommendations such as enhancing Auto Reconciliation, implementing Cash Forecasting, and customizing the treasury system for Project Costing Chart Fields.
Recently, Hennepin Country tasked Elire with implementing select recommendations from the 2022 assessment, including improving their PeopleSoft Auto Reconciliation. The Auto Reconciliation Addenda Parser helps identify matches and patterns, addressing previous issues in their processes.
The challenges faced during the project include the inability to get vendors and some government agencies to change payment formats and the need to customize the addenda parser to handle the complexity of Hennepin County’s transactions. The team wasn’t able to get vendors to change how they send payments and information, which required finding ways to reconcile the available information with the transactions in PeopleSoft.
In addition, the complexity of Hennepin County’s transactions necessitated customizations to the addenda parser that Elire was able to complete. The standard parser could not handle all the required scenarios, so enhancements were made to meet their specific needs.
By implementing the addenda parser, Hennepin County has reduced the number of hours required for reconciliation by more than 50%. The county can now reconcile receipts more quickly, enabling them to close their books in a timelier manner due to automated reconciliation. As a result, Hennepin County has improved cash positioning and forecasting.
Hennepin County, located in the state of Minnesota, is the largest county in the state by population. It is home to Minneapolis, one of the Twin Cities, and serves over 1.2 million residents. The county is known for its robust infrastructure, diverse community, and commitment to providing excellent public services. Hennepin County encompasses a mix of urban and suburban areas, and it prioritizes innovation and efficiency in its operations, making it a leading example of effective local government management.
Interested in learning more about how Elire can assist your PeopleSoft team? Visit our PeopleSoft Services Page or contact our team at [email protected].
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