ReconArt provides a modern software solution designed to help you establish strong, flexible and scalable reconciliation processes leveraging best practice and technology within a single integrated solution.
100% web-based: hosted externally or on-premise
The ReconArt software application is fully web-deployed in all aspects. From set-up to end-use, everything is performed in a web browser with nothing installed on the user’s computer. ReconArt offers flexible deployment options; either hosted securely and accessed with a secure internet connection or installed in a server location of your choosing under your exclusive control.
Total Reconciliation Lifecycle
ReconArt’s integrated functionality supports all aspects of the reconciliation lifecycle. We see this as everything that has to do with reconciliation: from administrative management and data integration, to robust transactional matching & exception management technology, to comprehensive, fully auditable balance sheet reconciliation, and other supporting functionality such as journal approvals and variance analysis.
Through all this user-owned functionality, ReconArt supports any type of reconciliation, including but not limited to bank accounts, credit card, payments, GL/suspense, AR/AP, ledger to sub-ledger, intercompany, trades and positions, balance sheet. Our solution’s flexibility even allows for non-financial data to be reconciled and reported. Flexible Edition-based licensing allows you to license and pay for some or all of this functionality based on your business needs.
Scalability by design
Match Millions in Moments
The matching engine provided in ReconArt’s solution is a critical tool in reconciliation productivity and accuracy. We believe it is a key product differentiator for ReconArt’s offering. Benchmarked at over 1 million transactions per minute, the matching engine supports multi-sided reconciliation and complex match rules in 1-to-1, 1-to-many, and many-to-many relationships. This powerful functionality is packaged in the most intuitive, modern, user-friendly way possible, making it highly scalable and accessible to the average business user. High volume, complex matching needs exist across the board in small to enterprise environments, requiring matching functionality that is feature rich, fully configurable, highly flexible, and business-user owned. The ReconArt matching engine answers this need by providing all the essential building blocks to fully support any data matching operation.
Best Practice Philosophy
Our solution is based on supporting industry best practices, regulatory standards, trends, and compliance mechanisms. Through proactive engagement and continual reinvestment, ReconArt is dedicated to remaining on the forefront in these areas. With ReconArt, you gain access to one single solution with functionality that is driven by best practices and improved by constant reinvestment in order to stay ahead of the curve. We resist solution customization from client to client when there is benefit to our broad client base. Such opportunities are part of our dedication to continued solution evolution.
Many of our customers are subject to internal and external audits. Our solution provides the auditing data and touchpoints for audit, which are easily facilitated by view-only system access.
The self-sufficiency of our customers has always been a key consideration in the solution’s design. Across every function, we strive to empower the typical users from Accounting, Finance, and Operations teams to easily adapt to using and administering their own ReconArt solution. Typically, no more than the equivalent of average Microsoft Excel® skills and a solid understanding of your own process are needed to take full benefit from what ReconArt has to offer.
|Industry:||Finance, Financial Services, Lending|
|Focus:||Multiple Bank Sources, Automation|
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