autorek

Automating the Reconciliation of Multiple Bank Accounts

AutoRek Reconciliation Software automates over 75% of the reconciliation process, shortening the reconciliation process to hours instead of the days or even weeks that manual processing can take. What's more, AutoRek is easily integrated with any existing IT systems including client data extraction systems such as OSMO from VisionCritical.

As a successful invoice finance company, you’ll have a large number of customers and, possibly, you’ll manage these customers through a local branch network.  That means that you’ll have hundreds or, possibly, thousands of client trust accounts to reconcile with hundreds or, possibly, thousands of client cashbook submissions or sales ledgers.  Add in branch-to-head-office reconciliations and you have a daunting task – especially if you’re currently using Excel or manual reconciliation methods.

Invoice Finance Sector Benefits

Of course reducing reconciliation workloads and improving productivity isn’t the only benefit that faster more accurate reconciliation can bring, AutoRek can help invoice finance companies to:

• Minimise operational risk - identify fraudulent activity or potential bad debt more quickly
• Optimise cash and asset management - shortening the reconciliation lifecycle means more up-to-date information enabling you to manage your assets more efficiently
• Reduce the compliance burden – with a transparent audit trail, making FSA or other compliance requirements more easily achievable

Find Out More

To find out more please Contact Us with your enquiry. Alternatively, visit our Resource Centre to download the following related Case Study:

• Invoice Finance - High Volume Reconciliation