Reconciliation is a rules-based process that is a time-consuming process for the Accounts department.
They have to access more than one system, usually, an ERP or payables system, banks or even third-party service providers to find information about the money spent and received to balance the final figures.
Bots can match the payment details with bank data and other records. If the details match, they are reconciled. In case of any unmatched transactions, RPA sends the records for further validation.
