Overview
TCS BaNCS for Reconciliations is a global industry standard solution that is successfully running in multiple organizations, performing cash, securities position and inter-system reconciliations. It manages the end-to-end process from loading to validating, matching and reporting as per the requirements of an organization.
The solution can match transactions emanating from any line of business giving it a unique position in the industry. It is a strategic solution for enterprise-wide reconciliations needs of any organization as it scales horizontally and vertically.
Key Features
- A single installation for multiple legal entities within the organization
- Centralized enterprise-wide reconciliations across business lines, reducing operational cost and improving productivity
- Scalable system and operations to future growth
- Fuzzy matching algorithms for increased eciency.
Key Benefits
- More than 70% transactions are automatically matched off in each run with a high configurable rules engine
- Sets up workflows that follow either of 2/4 or 6 eye approvals and also records all the audit trails online
- The application UI supports the configuration of new reconciliations, add/modify rules, generate reports
- Suggests possible matches with significant accuracy in much lesser time
- Provides its own set of dashboards, widgets and reports that cater to various segments of users
- Facilitates flexible user creations and grouping capability, coupled with the work allocation hierarchy setup
Product/Service details
SOLUTION OR SERVICE TYPE