Electra Information Systems (Electra), the leading provider of state-of-the-art reconciliation solutions for the asset management industry, today announced the first true n-way reconciliation in the marketplace designed to meet the growing demand to support the verification of an increasing number and complexity of internal and external data sources.
This enhancement to its flagship Electra Reconciliation solution addresses a longstanding challenge facing the industry that has arisen in tandem with the number of data sources and sheer volume of data to be validated. With reconciliation traditionally existing as a process to verify their investment activity against their custodians, investment managers now find themselves faced with additional external players in their universe, such as fund administrators and prime brokers. From an internal data standpoint, many of the in-house systems in place consume data extracted from central data repositories making it essential for investment managers to verify the accurate exchange of information across systems such as order management, portfolio accounting, risk analytics, performance measurement and other client reporting applications.
Historically, commercial reconciliation packages have tackled this challenge by employing multiple two-way reconciliations where the multiple source comparisons are viewed in separate screens and reports.
Electra’s n-way reconciliation allows users to compare multiple unique data sets within the same view, and to compare large volumes of data quickly and seamlessly. “Until now, a true n-way reconciliation solution has eluded the world’s most respected providers of automated reconciliation technology,” says John Landry, Chief Executive Officer of Electra Information Systems. “Reconciling just two data sources is daunting enough, so we are especially excited to offer the first solution that reconciles any number of sources simultaneously.”
N-way is the latest enhancement to the award winning Electra Reconciliation in 2016. Earlier this year Electra won both the Best Reconciliation Management Provider in Waters Technology Rankings and Best Reconciliation Solution in the FTF News Technology Innovation Awards. Eagle won both the Best Enterprise Data Management Systems Provider in Waters Rankings and Best Enterprise Data Management Solution and Best Performance Measurement and Attribution System in the FTF News Technology Innovation Awards.
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