SmartStream Technologies, the market leading provider of Transaction Lifecycle Management solutions, today announced that one of the world's Top 20 Companies (by revenues1) is implementing TLM Reconciliations to automate their account reconciliation process and introduce essential audit controls.
The Global Top 20 corporation selected TLM Reconciliations to create a single, enterprise-wide reconciliations and exceptions management platform that will automate all sub-ledger account reconciliations and deliver the operational controls demanded by Sarbanes Oxley.
Commenting on the project, Lou Longhi, Managing Director, Americas, SmartStream Technologies, said "Flexibility and control are paramount today. Like many corporations, our client was running a mostly manual monthly reconciliation across their many sub-ledger accounts. Hundreds of staff were deployed, yet the month-end closing process was still lengthy and inconsistent. Additionally, Sarbanes Oxley demands led them to take a hard look at automation. TLM offered our client the desired levels of management control and complete visibility into their account reconciliation process. With a very flexible data model, powerful matching rules, integrated exceptions management and TLM's dashboards the firm is able to gain significant operational and compliance benefits."
Longhi continued, "Our corporate clients insist on comprehensive management controls as part of their reconciliation automation projects. TLM helps our customers with the twin goals of cost reduction through best-in-class automation functionality and risk reduction by meeting their tough compliance needs. We are delighted the world's largest corporations have shown confidence in our vision by investing in TLM.”
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