The lack of reconciliation process control and subsequent breaks in control can expose firms to significant operational risk. SmartStream’s TLM reconciliation solution aims to deliver a single, automated control hub for processing all transaction types across multiple systems.
TLM’s lifecycle approach to inter-system reconciliations supports institutional efficiency drives. By providing a volume-insensitive hub for transactions, TLM helps to overcome issues around inaccurate data, inconsistent reconciliation processes and the absence of inter-system validation and control.
TLM reconciliation solutions enable firms to load transaction data once, pulling data from disparate, siloed systems, to be centrally reconciled and verified. This can deliver greater transaction visibility and helps to reduce an organisation’s operational risk.
The solution provides an opportunity to re-engineer business processes. By reducing hundreds of separate reconciliations to a handful, TLM can also lead to a reduction in the number of exceptions raised. This, ultimately, supports institutions in the drive to lower the cost of exception management through efficiency gains.