Advanced announces partnership with reconciliation solutions provider ReconArt

18 September 2012

Advanced’s customers can now benefit from the most comprehensive web-based reconciliation solution on the market

The Commercial Division of Advanced Business Solutions (Advanced) today announces that it has entered into a partnership agreement with ReconArt, the provider of the 100% web-based Total Reconciliation Lifecycle solution™. The ReconArt™ solution is now available to Advanced’s customers, providing them with an intuitive and quick-to-implement answer to all their reconciliation needs.

ReconArt, which can be implemented in-house or provided as a hosted Software-as-a-Service, fulfils an organisation’s entire reconciliation requirements, providing support for all types of transaction matching, exception management and reconciliation activity.

By replacing multiple, disjointed and often cumbersome solutions currently used for different areas of reconciliation and different stages of the reconciliation lifecycle with a single, integrated solution, ReconArt improves efficiency and reduces both operational costs and risk. It also ensures compliance with audit, regulatory and statutory requirements.

Simon Fowler, Managing Director of Advanced Business Solutions (Commercial Division), says, “ReconArt is the most comprehensive and user-friendly reconciliation solution on the market, making it the ideal choice for Advanced’s customers, regardless of size and industry sector. We are pleased to be adding ReconArt to our business applications portfolio and look forward to it streamlining our customers’ reconciliation processes and driving down their operational costs.”

ReconArt covers all reconciliation activity. This includes bank, cash, credit and debit cards, payables, receivables, suspense, fixed assets, inventory, ledger-to-sub ledger, inter and intra-company and non-financial data. It also manages all stages of the reconciliation process, from data import, transformation and enrichment through to matching, exception resolution, reporting, analytics, period-end reconciliation, attestation and certification.

Nicolo Nisbett, Executive Vice President Sales from ReconArt, says, “As ReconArt is so fast to implement and easy to use, organisations can be up and running very quickly. Being web-based, the solution is very cost-effective and can deliver a swift return-on-investment, making it a compelling proposition for finance departments across all business sectors.”

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