Mar / 17 / 2015
The Changing Landscape of the CFO
The emergence of the Shared Service Centre (SSC), sometimes also referred to as the Shared Services Operation or Organisation (SSO), is certainly no new phenomenon. Since the mid-noughties, the cost and efficiency opportunities to be had through centralisation have been well understood by CFOs. They have become part of the organisational landscape of ...read more
Mar / 9 / 2015
Conciliación – Soluciones y su Desafío
El concepto manejado para el término conciliación se define como el proceso de hacer coincidir las transacciones individuales de los extractos bancarios con los datos internos relevantes para asegurar que toda la información registrada por el banco es exacta.
Es un proceso que permite confrontar y conciliar los valores que la empresa tiene registrada ...read more
Mar / 2 / 2015
Finding the “Modern” (Reconciliation & Financial Close) Software Solution
There is something of a change afoot. We are on a wave that has many businesses looking to reinvest in their systems and processes. This interest is especially true in relation to financial control solutions software. The drivers are varied, but generally the lack of investment has also created a lack of capability ...read more
Feb / 23 / 2015
Reconciliation in Banks and Financial Institutions
A detailed knowledge of reconciliation processes in banks and financial institutions (FIs) is a core competency at ReconArt, yet it never ceases to amaze us how every client’s focus is on a different process with a distinct set of challenges. We are fortunate to have worked with a wide range ...read more
Feb / 16 / 2015
Insuring Your Risks: Partnering For Success
I was going to start off describing what we do here at ReconArt. In simple terms, we help our clients with their period, quarter and year-end financial close management and, leading up to that, make sure that all relevant accounts are properly reconciled. Then I suddenly realized something…
In ...read more
Feb / 9 / 2015
The FCA PS14/9 regulations: Coming, Ready or Not
The United Kingdom’s Financial Conduct Authority (FCA) regulation PS14/9 related to custody assets and client money has a backstop for implementation of 1 June 2015.
Compliance with the rules in the client assets sourcebook (CASS) has never been more important. There is now considerable ‘noise’ from the FCA given the short timescale for implementation, ...read more
Aug / 22 / 2014
Is Your Financial Reporting SEC Compliant?
When you hear those letters, SEC, what comes to mind? To some it's the call sign of a superhero tasked with protecting the American people from fraud and keeping Wall Street accountable. To others it's a dreaded governmental bureaucracy creating endless paperwork and headaches. So although many of us are familiar with the SEC from news headlines, not ...read more
Aug / 14 / 2014
4 Myths About Automating Your Reconciliations Debunked
You know there are problems with your current manual reconciliation process. It’s not efficient – there are way too many people ‘ticking and tying’ when they could be doing so much more. It’s open to risk and difficult to report on – unstandardized. Jack notes an exception in one way, Jill in another. Sometimes things get missed. It takes ...read more
Jul / 30 / 2014
New FCA CASS Rules Require Robust Reconciliation Technology
Far reaching new rules introduced by the United Kingdom’s Financial Conduct Authority (FCA) with respect to customers’ monies and assets have been encompassed under policy statement 14/9 (http://www.fca.org.uk/static/documents/policy-statements/ps14-09.pdf).
These ...read more
Jul / 12 / 2014
Implementing A Reconciliation Solution – The Business Case Made
It is crucially important that all organizations, which rightly seek financial stability and control, pay careful attention to the need to deploy a robust reconciliation solution.
The results of failing to do this, with the necessarily high degree of operational detail required, can be catastrophic for their reputation, both corporately and for their ...read more