Uploaded on March 20, 2017
“A new web-based system called Crush Errors is helping accounting professionals find errors and discrepancies in bank statements, invoices and other financial documents within seconds. And new features add artificial intelligence capabilities.
“Crush now has artificial intelligence that makes it even easier to reconcile all-too-frequent discrepancies between an organization’s internal accounting and its bank accounts,” said Crush’s Founder and CEO Douglas Schiller. “Users only have to load their internal accounting records and bank data and Crush’s artificial intelligence will configure everything to find errors. Crush has been taught to read accounting reports and bank statements so users can focus on their errors rather than configuring software. Crush is regularly learning new document types to enable these AI features for a wider audience.”
The full software is available for an annual $225 subscription. “It is a low-cost alternative to substantial manual data manipulation and 19th century tick-and-tie and stare-and-compare grunt work,” said Schiller. Crush delivers its computational software to the user’s browser where the human error is discerned. Users load their data into the browser and that’s where it remains. For security and privacy protection, user data is never sent to the cloud.
One of Crush’s most groundbreaking tools is the ability to find combinations of numbers that equal other numbers. Since one payment can often cover many bills, or one bill could have many partial payments, there could be millions or even billions of possible combinations when trying to reconcile money paid and money owed for example. Crush computes all of the combinations and empowers the user to swiftly match payments to bills. This is a powerful tool for vendor, customer and bank account reconciliations.
Users can also select from one of Crush’s many pre-built apps, including searching for sequence errors, duplicates, and ghost accounts. The company and professional service providers can even create custom apps, with the built-in language, to automate and resolve user-specific problems. Most custom apps can be developed in less than an hour.
Another powerful Crush tool makes it easier for accounting and marketing departments to reconcile and find discrepancies in customer data. Crush not only finds exact duplicates; it also locates so-called fuzzy matches such as Dan’s Bar and Grill and Dans Bar & Grill and assigns a percentage score to each match that indicates the likelihood the two inexact versions, in fact, represent the same customer. This fuzzy matching feature is essential for reconciling, for example, a CRM (customer relationship management) with an accounting system, to establish true data interoperability.
Schiller, a CFO consultant for several technology companies and a software developer, created Crush Errors due to his own frustrations over having to spend countless hours staring and comparing to find the “needle-in-a-haystack” errors that were throwing off his reconciliations for clients looking to go public, secure bank loans or going through audits.
“Sometimes you can’t even put a price on how valuable a product like this is, like when you have to find errors in a crunch, right before an audit or a meeting with important investors,” he said. “Sometimes you need to find and reconcile errors really quickly and there’s just no other way. In situations like this you’re not only saving time but a lot of money and important business relationships. After struggling to find errors and seeing many others do the same, I’ve developed a product that takes the drudge work out of the process and keeps financial, marketing, and sales professionals at the cutting edge of productivity.”