Reconciliations are a vital part of the insurance industry and many firms still use manual tools such as Excel to perform these key financial controls. Reconciliations are reliant on data that is high volume, complex and from multiple sources and formats, so error-prone manual processes increase operational risk while reducing transparency and efficiency.
For more on how AutoRek can help you save time and money on your reconciliation process, download our free whitepaper below.
AutoRek is a global provider of financial controls, data management and regulatory reporting software.
Implemented in many of the world’s largest organisations, our range of deployments vary from high volume data migrations, elimination of manual processes and spreadsheets, regulatory reporting, reduction in fast close processes, to mitigation of operational and regulatory risk.
Key business benefits from implementing AutoRek include:
• Mitigating risk of regulatory breaches;
• Real time insight into status and exposure;
• Reduced dependency on manual processing;
• Single repository for control frameworks and data management;
• Automated workflow for governance and audit;
• Efficient electronic sign off and record retention; and
• Adaptability to meet new regulatory requirements.
Our solutions are purpose-built to improve the quality and efficiency of financial data management, from cost reduction and process efficiency projects, to improving adherence to regulatory reporting requirements.