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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 ...

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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 ...

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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 ...

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Feb / 6 / 2014

How to set up your EMIR OTC Derivatives Portfolio Reconciliation

Risk Mitigation Techniques such as Portfolio Reconciliation for uncleared trades must be applied by firms as described in article 13 of the EMIR regulation. Depending your exact business this can be an easy exercise or a real burden. When you are a non-financial counterparty with 100 or less contracts you have to perform the portfolio reconciliation ...

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Aug / 9 / 2012

Optimizing Period End GL Balance Sheet Account Reconciliation

Software solutions dealing with account reconciliation have been around since the 1960s.  Originally developed on mainframes, they were designed to automate the ‘ticking and tying’ of transactions to ensure that they matched.   To some extent they replaced human resources, with ever increasing labor cost, performing those tasks and ...

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Jun / 18 / 2012

Achieving All-encompassing Reconciliation Across Capital Markets Functions

Capital markets firms have been reconciling data for as long as any of us can remember.  However, unlike the situation in some other industries, true enterprise-wide reconciliation practices housed in one repository have eluded the industry for years.  Why?  In one word: complexity.  ...

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May / 7 / 2012

Reconciliation & Exception Management – Should You Build or Buy?

Microsoft Excel remains the most widely used reconciliation platform today, but at what cost?  It’s perfect for small businesses or quick fixes: cheap, easy, and flexible.  But what happens when your needs grow in terms of frequency, volumes and scope?  More and more resources are required, and more processes need to be built outside ...

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Apr / 25 / 2012

How to Make Merchant Processing Reconciliation Optimal

I recently penned a blog about how we have helped a number of clients recently with their accounts receivable cash allocation using the ReconArt™ Total Reconciliation Lifecycle™ solution.  Soon after it posted, I woke up one morning realizing that the same was ...

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Apr / 10 / 2012

Maximizing Receivables Cash Allocation

Reconciliation technology has many uses and provides a wide array of tangible (savings) and less tangible benefits (until a problem becomes reality) in terms of mitigating financial transaction-based operational risk.  For instance, all organizations, in every market sector, have to reconcile the bank account, but there is so much more value a reconciliation ...

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Mar / 5 / 2012

The Corporate Reconciliation Landscape

Why it makes sense to deploy new technology now Now has never been a better time to review how technology can assist in the multitude of reconciliation practices that necessarily exist across multiple business lines and functions.  Many of us have recently closed the 2011 books, and gone through first internal, then external audit.  ...

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Case Study

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TekSavvy

Industry: Telecommunications
Focus: Month-end Auditability, Streamlining

TekSavvy provides residential and commercial internet and home phone services and more recently has developed a fixed wireless network which is used to provide high-speed internet access.

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ReconArt Customers

Here are some of our customers who leverage ReconArt to support their reconciliation and close processes.

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