SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced the launch TLM SmartRecs, the first enterprise product designed so operational staff can define data, load and deliver documented reconciliations results in minutes. Easy to use for non-technical staff, the product works with the latest releases of both TLM Reconciliations Premium and TLM Reconciliations.
This new class of tool integrates data, documentation and delivery into one prototyping product for rapid delivery into existing TLM enterprise reconciliations systems. It removes the need for bespoke in-house tools, spreadsheets and less powerful matching software. Philippe Chambadal, CEO, SmartStream observes: “Organisations waste time and money on unnecessary solutions which often lead to increased operational cost and complexity, our customers told us they would rather leverage their investment in systems and operational capabilities that already exist. We listened and produced this easy to use rapid delivery tool for our customers”.
Often mechanisms that define reconciliations tend to be designed for technical staff working on the most demanding and complex reconciliations. TLM SmartRecs is fast and simple and can be used by business analysts for everything from straightforward data, right through to complex reconciliations all in collaboration with specialist staff. The product is ideal for client on-boarding, ad-hoc requests and inter-system controls, typically used with data in XML documents, CSV files and spreadsheets.
TLM SmartRecs is the first enterprise solution that combines data definition, mapping, loading, transformation, rule definition, reconciliation results and automated documentation through a browser, windows client or tablet. David Penney, EVP, SmartStream, commented: “Data for reconciliations comes in an endless variety of formats. We have had many discussions with clients where they were looking for an innovative and collaborative approach to reconciliations, as well as speed and ease of use. SmartStream’s Innovation Laboratory has delivered the most intuitive and capable tool available on the market. We will be showcasing TLM SmartRecs at Sibos so firms can see a demonstration of this for themselves”.
TLM SmartRecs uses existing TLM software and integrates seamlessly with TLM Reconciliations solutions including the tools used in TLM SmartStudio and the TLM Message Interface. It brings all tasks into one place, including testing and documentation and can be used for both simple and complex reconciliations.