A reconciliation utility offers the opportunity to significantly reduce back and middle office costs. SmartStream has leveraged its knowledge and expertise as the leading reconciliation software solution provider to develop a reconciliations utility model.
Reconciliation utilities promise better and more flexible application of resources, lower cost structures, unified technical platforms, best practice synergies and better staff retention. They also give managers a perspective on the process that allows them to understand operational risk, and to improve financial reconciliation processes. Larger firms have been able to reach ROI figures in the range of 25% to 100% and break-even within 1 year in well-managed and well-implemented cases.
The SmartStream white paper, Building the Business Case for a Reconciliation Utility, provides a proven methodology for developing the Reconciliation Utility ROI case and setting your utility project on the right path.
Building the Successful Utility
SmartStream has the expertise and experience to help you achieve the full promise of a reconciliation utility. More than 75 of the top 100 global banks rely on SmartStream for their enterprise reconciliation and exception management needs.
SmartStream TLM Reconciliations is the industry-leading Reconciliation Utility platform because it brings the full set of capabilities required for utility success. This includes:
- Scalability and ultra-high performance
- Ability to perform any kind of reconciliation, to reconcile any data against any other data
- Fully flexible matching rules and the most advanced matching algorithm on the market
- Workflow capabilities to extend automation capabilities through to exception resolution and repair
- Lowest cost and most flexible Web-based user interface
- Ability to monitor and control the end-to-end process, establish metrics, track and report failed transactions, and improve operations accordingly
- Ability to customise and change data, match rules, workflow and presentation quickly and easily to continuously improve operations