Why We Built the Reconciliation Agent — And Why It Matters Now More Than Ever

Every day, millions of transactions and billions of dollars  flow across vendors, banks, carriers, and payment systems. Behind the scenes, finance teams are left with one of the toughest jobs in accounting: making the numbers tie out.

The scale of transactions they deal with is massive:

• In the U.S., the ACH network processes 80 million payments per day, moving around $170 billion daily.
  
  

• Credit card networks handle more than 150 million transactions daily in the U.S., worth $15+ billion.
  
  

• Globally, the payments industry processed 3.4 trillion transactions in 2023, totaling $1.8 quadrillion in value.
  
  

And beyond those flows, accountants still reconcile payroll files, carrier invoices, intercompany transactions, and ERP exports month after month.

Despite this avalanche of volume, up to 90% of companies still reconcile manually in spreadsheets. The result is billions of dollars wasted each year in labor, errors, and delayed closes.

The Problem with Existing Systems

Today’s reconciliation software comes with big promises but painful realities:

• Rigid requirements: Data has to be in a specific format before you can even begin.
  
  

• Limited compatibility: Most tools can’t read common finance files like Excel or PDF — the exact formats where much of reconciliation still lives.
  
  

• Slow adoption: Implementation takes months, often requiring IT resources, consultants, and heavy customization.

The result of it is that Firms and finance teams  still continue to do all of this manual work in spreadsheets.

Why We Built the Reconciliation Agent

At LuminaData, we asked a simple question: What if reconciliation didn’t have to be this hard?

Our answer is the Reconciliation Agent, designed with a radically different approach:

• Connect any data format — Excel, PDF, CSV, ERP exports, even messy files.
  
  

• Set up reconciliations via natural language or SOPs — no macros, no scripting, no IT support.
  
  

• Run reconciliations in minutes — not days.
  
  

• Generate reports in the output format you need — audit-ready, PCAOB or AICPA-aligned, Excel, or PDF.
  
  

In other words, we built the agent to meet finance teams where they are, not where software vendors expect them to be.

Why Our Approach Is Unique

Most reconciliation software is designed as a rigid platform. LuminaData takes an agent-first approach:

• Learn: The agent reads your instructions, SOPs, or templates.
  
  

• Adapt: It adjusts as your data changes — no brittle macros or months-long reconfiguration.

• Run: It executes complex reconciliations dynamically, with full exception reporting and an audit trail.

And it does all of this without requiring any technical development. Finance teams can start running reconciliations on day one.

A New Standard for Finance

The Reconciliation Agent isn’t just another tool. It’s an AI coworker — built to learn from you, adapt to your workflows, and take the manual burden out of one of the most important processes in finance.

Because reconciliation shouldn’t drain hours, talent, and resources. It should just work!

Want to see it in action?
Request a demo or get in touch to explore how we can help streamline your financial operations.