Posted: 18/09/2024 | Read time: 2 minutes
AutoRek and Capgemini have signed a new agreement that will see Capgemini become AutoRek’s first strategic professional services and technology partner. This will empower AutoRek to be at the forefront of regulatory changes and reporting requirements for clients. Through this agreement, Capgemini will mobilize its team of experts on AutoRek’s reconciliation solution and guide AutoRek’s clients with day-to-day support of implementations.
AutoRek is a Glasgow-based fintech company with an award-winning reconciliation and financial data management platform which strengthens the finance operations and controls for some of the largest institutions across asset management, payments, banking and insurance sectors. Through combined industry expertise, Capgemini will enrich its portfolio with a new go-to-market proposition alongside AutoRek to address the increasing market need for real-time cash management and transaction reconciliation.
Alastair MacKenzie, Head of Strategic Partnerships at AutoRek comments: “AutoRek is on a mission to set the benchmark in trust for finance operations and controls. At the heart of our partnership with Capgemini is a shared vision for modern finance data platforms delivering a step change in efficiency and accuracy. This exciting new collaboration will enable us to provide our clients with complementary consulting and advisory services, and quickly expand our international presence. We are delighted to be working closely with like-minded experts, dedicated to the needs of financial services.”
“Companies are under immense pressure to free up cash from their operations. AutoRek’s innovative reconciliation solution is trusted by some of the world’s leading banks and insurers to efficiently optimize their working capital with confidence. We are proud to be supporting AutoRek to build upon its success and extend its growth internationally,” said Jeroen Hölscher, Global Head of Payment Services at Capgemini.
A report by Capgemini indicates half of payment executives handle their cash reconciliation process manually. A common approach sees large volumes of data analyzed through spreadsheets taking significant effort and time, and being prone to error, potentially causing payment delays and supplier record discrepancies. Without consistent and reliable data tracking of spend, teams can encounter obstacles that impede efficient cash flow management and identification of areas for improvement, creating roadblocks that ultimately lead to poor payment reconciliation. The intelligent automation of money movement and liquidity reconciliation can revolutionize the process giving enterprises the transparency they need with real-time cash forecasting, increasing the value of their working capital, and driving their competitiveness in the marketplace.