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Rigorous Account Ownership and Control by ReKognize

ReKognize™ is a powerful, web delivered assurance and attestation product that ensures account ownership across your organisation, drives accountability at each stage of the process and gives instant transparency over all accounts.

Account ownership is critical to a robust risks and control framework alongside informed and timely account or balance sign-off. ReKognize™ provides a consolidated view to quickly identify trends across divisions, groups, entities, functions or account categories. Delivered on the same platform as AutoRek, our high performing automated reconciliations tool, accounting controls can be made more effective, efficient and transparent.  ReKognize™ gives you:

Control

ReKognize™ will reduce the cost of supervising, reviewing and managing reconciliations and controls by 75% in most organisations. By removing the effort in seeking out exceptions, breaches of policy, incomplete attestations, out-of-range values or unassigned accounts efforts are concentrated on dynamic risk management.

Flexibility

ReKognize™ directly interfaces to any accounting package and the full chart of accounts can be monitored real time in ReKognize™. With parameter driven escalations and alerts reducing review resource and time identifying instantly, for example, if an account value goes outside expected range, an owner no longer appears in HR or payroll records or if a sign off is overdue.

Granular transparency

ReKognize™ goes further than that. By exploding the consolidated balances into the component balances, ownership of the group total (for example) can be properly subdivided and signed off at the appropriate level by the person who is accountable for the veracity of that number. That sign off can be following a sign off of an automated reconciliation in ReKognize™ (automatic) or following a manually or templated reconciliation or analytical review for reasonableness.

Because AutoRek can report on the absolute value or net values of unsigned accounts balances or transactions giving a real sense of the exposure that exists to unattested financial figures.

Benefits of ReKognize™:

• Ownership, accountability and transparency across entire sets of accounts
• Early warning of potential areas and ability to drill down
• Reduced costs and improved control
• Increased process efficiency and visibility
• Consolidated management information reports
• Instant access to balances and P&L exposure across entire sets of accounts

ReKognize™ has a rapid deployment approach and our agile delivery can deliver a framework in a matter of weeks.

Find Out More

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

• Integrated Reconciliations and Account Attestation: ReKognize from AutoRek
• Attestation & Sarbanes Oxley – Reducing the Costs of Compliance