Howden, a global insurance intermediary group, faced significant operational friction from manual, spreadsheet-based IBA (Insurance Broking Accounting) processes and the challenge of reconciling large volumes of diverse, multi-format data. They required an automated platform to streamline processes and enhance data control to support global growth and efficient settlement for their insurers.
AutoRek implemented a mature insurer statement and bank reconciliation solution that leveraged automation for maximum matching and break analysis. This has significantly enhanced operational efficiency and control, supporting Howden’s global expansion plans across Europe.
- 50%+ Time Saved: Reconciliation processing time was reduced by over half, increasing team capacity.
- 76% Match Rate: Achieved a high automatic match rate for greater data control and accuracy.
- Easy Reporting: Reporting dashboards delivered improved insights and enhanced auditability.