The lack of reconciliation process control and subsequent breaks in control can expose firms to significant operational risk. SmartStream’s TLM reconciliation software solutions deliver a single, automated control hub for processing all transaction types across multiple systems.
TLM’s lifecycle approach to inter-system financial reconciliation 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 single data loading operations to draw data from disparate, siloed systems, to deliver a central reconciliation and verification capability. This delivers greater transaction visibility and helps to reduce an organisation’s operational risk.
These solutions therefore provide an opportunity to re-engineer business processes. By reducing hundreds of separate reconciliations to a bare minimum, TLM can also reduce the number of exceptions raised. This ultimately supports institutions in the drive to lower the cost of exception management through efficiency gains.