The reconciliations handbook
Reconciliations are a fundamental control mechanism for finance and accounting. Despite this, many firms across the financial services sector continue to rely on Excel spreadsheets to carry out this crucial process. The reconciliation process used to be relatively simple to conduct. And using Excel, a legacy point solution, or an in-house reconciliation tool to perform…
Reconciliations 101: Different types & overcoming common challenges
…but also wastes time and resources. More specifically, relying on old-fashioned manual processes results in the following drawbacks: Higher frequency of breaks Operational inefficiency Lack of control and auditability Inability…
How back-office automation reduces costs and encourages growth
Posted: 10/05/2023 | Read time: 4 minutes Financial services firms are facing challenging market conditions in 2023. After two years of uncertainty caused by the COVID-19 crisis, organisations now operate amid a tumultuous geopolitical climate, soaring levels of inflation, and an economy teetering on the edge of recession. Many firms have taken to cost-cutting…
Could automation pave the way to a four-day week?
Posted: 13/04/2023 | Read time: 3 minutes Murray Campbell, CASS Business Consultant at AutoRek, considers how calls for a four-day working week could be met by achieving efficiency through automation Amidst a challenging regulatory landscape of ever-increasing complexity, shifting work practices and individual expectations are adding further challenges for firms to address. Calls to…
Automated reconciliations 101: Your guide to modernising processes
Posted: 13/04/2023 | Read time: 4 minutes Reconciliations are becoming increasingly complex. Transactional volumes are rising as the financial services sector grows and becomes increasingly globalised, frictionless and digital. And, as regulators keep checks on a fast-evolving sector, organisations also face increasingly stringent regulatory requirements. As the industry changes and companies grow, manual reconciliation…
The reconciliations handbook
Reconciliations are a fundamental control mechanism for finance and accounting. Despite this, many firms across the financial services sector continue to rely on Excel spreadsheets to carry out this crucial process. The reconciliation process used to be relatively simple to conduct. And using Excel, a legacy point solution, or an in-house reconciliation tool to perform…
The reconciliations handbook
Reconciliations are a fundamental control mechanism for finance and accounting. Despite this, many firms across the financial services sector continue to rely on Excel spreadsheets to carry out this crucial process. The reconciliation process used to be relatively simple to conduct. And using Excel, a legacy point solution, or an in-house reconciliation tool to perform…
Account ownership and sign-off | ReKognize
ReKognize™ is our web delivered assurance and attestation product, built to ensure account ownership, drive accountability and give instant transparency over all accounts. Built upon the AutoRek suite, ReKognize™ is the first integrated attestation and reconciliation tool. This product presentation: Discusses the need for ownership and sign-off Debates why you should automate sign-off Introduces ReKognize™…
VanguARd – automated cash allocation
Many financial organisations continue to struggle with limited cash application or auto-cash processing functionalities provided by core accounting systems. This results in inefficient manual processes and increases the time to post cash, research exceptions and correct allocations. VanguARd™ is our automated cash allocation and cash application tool. It takes any format of remittance advice, relates…