White Paper: AutoRek
As we know, bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement. The goal of this process is to determine the differences between the two, and to book changes to the accounting records as appropriate.
The challenge in automating a lot of complicated reconciliations comes not within the matching, but in gathering the information from the myriad systems and services and making ready them to create “golden sources” on either side of the reconciliation. It is the “golden sources” that make matching effective, aid the analysis and resolution of the unmatched items and allow effective reporting.
This white paper breaks the reconciliation method down into variety of basic tasks. Each of the five steps—Source, Explore, Enrich, Match, and Escalate—is applied to every reconciliation scenario to some greater or lesser extent. This white paper educates how building and automating simple reconciliations, as quickly as in Excel, allows automatic execution of the most complicated reconciliation and data management challenges running in ultra-high volume scenarios.
Read the following whitepaper that will address the following questions :
What are the best practices for Bank Reconciliation Processes?
What are the challenges in automating more complex reconciliations?
How to overcome the drawbacks of Excel-based solutions?
How this 5-step approach can build and automate simple reconciliations?
In the present scenario, it is very difficult to achieve CASS compliance without the correct CASS governance and oversight framework in place. Most firms with CASS failings painfully resolve their issues only to find more problems down the line, despite all the costs and resources that they would have dedicated to resolving the initial failings. Often this is due to the lack of focus on building a sustainability framework that is forward looking, rather than incident driven. But what does 'Good CASS Governance' even look like? Few firms or consultants can explain what good governance looks like or provide a tangible solution; a lack of clarity in the market exists even before the myriad of CASS arrangements have been added to the equation. This whitepaper provides insights on what firms need to do in order to manage CASS risk and build a robust CASS governance structure. It highlights: Good Governance: The Key to CASS Compliance Personal accountability and Tougher CASS audits The importance of centralized processes and controls Risk management using 'tangible' governance tools A 'Governance Wheel' of CASS governance's critical elements The danger of 'sticking plaster solutions' How Rosediem and AutoRek can help
How to manage your financial controls gaining efficiencies, mitigating risk and enhancing controls? Financial control must contend with complicated data environments, regulatory pressures and ever-present need to gain efficiencies. As businesses become more ascendable, a tactical solution to collate or analyze huge sets of data is no longer sustainable. A robust process is needed that can manage financial controls and track transactions and accounts through their lifecycle. Managers would like access to key data in period of time and have problems escalated to them as they happen. This white paper informs how dashboards and workﬂows can accomplish that— from assignment of individual responsibility to account attestation and regulatory reporting, providing a strong robust automated financial control framework to completely support financial management. This whitepaper addresses present-day financial controls questions, such as : How to manage financial controls and track transactions and accounts through lifecycle? How to build a robust control environment and how to deal with complex data environments? What are the risks of tactical solutions? How to control the period end process? How a financial control framework supports financial management?