AutoRek delivers a robust automated financial controls framework to reduce operational risk, enhance control and deliver efficiencies. By adopting a single, automated repository, financial controllers are equipped with granular, complete, accurate and timely data to undertake effective financial management.
Managing your Financial Controls
- Robust Control Environment
- Integrity and Validation of Data
- Scalable Solution to Support Increasing Volumes
- Effective and Efficient MI and Reporting
- Comprehensive Audit Trails
- Reduction in Period End Close
- Oversight Across Different Business Units and Locations
- Automated Workflow Supporting Good Governance and Exception Management
Successful financial control frameworks include: reliable data, timely MI, automated reconciliations, segregation of duties, variance analysis, intercompany processing, transactional analysis, exception management and automated journal postings. AutoRek provides a transparent and auditable control environment to support financial control functions.
The financial control function manages varying moving parts, including corporate accounting, financial and regulatory reporting, budget and forecast preparation, and development of internal control policies and procedures. AutoRek amalgamates and consolidates data from any system in any format, giving financial control functions the ability to analyse data and produce meaningful and reliable MI, such as trending forecasts, budgets against actual or cost-income ratios.
AutoRek’s capabilities and functionality supports period end close cycles, the continuing demand for more information faster, oversight of data from disparate systems or different geographies. Key features include:
- Automated reconciliations performed at the most granular level;
- Data enrichment supporting revaluation of market value, FX exposure or interest calculations on a regular basis;
- Automatic application of chart of accounts;
- Automatic production and posting of journal adjustments;
- Case management and workflow supporting escalation and resolution of breaks and exceptions;
- Production of data rich management information that is relied upon to drive business decisions;
- Account attestation and sign off procedures;
- Output of internal and external reports in any desired format.
“Many firms we have worked with sought an automated, transparent and auditable solution to replace their labour intensive manual processes and vast number of spreadsheets. In turn these firms now have best in class reconciliations with upwards of 90%+ automatic match rates, dynamic risk rating of reconciliations and accounts, consistent controls and processes across business units and geographies, increased productivity and efficiencies. Our clients have the ability to support business growth in a controlled and scalable environment.”