Electra Information Systems Launches Intraday Reconciliation Functionality to Support Follow-the-Sun Processing
Electra Information Systems (Electra), the leading provider of state-of-the-art reconciliation solutions for the asset management industry, today announced the release of enhanced functionality to its flagship Electra Reconciliation solution to support intraday data feeds and thereby eliminate risks associated with waiting until the next day for exceptions to be resolved.
Intraday reconciliation is the overwhelming preference of the investment management community as they steadily increase the frequency at which they process reconciliation data and move away from overnight file processing. Electra’s intraday reconciliation capability addresses the risks associated with waiting until tomorrow to resolve exceptions identified today. Electra utilizes a proprietary algorithm that identifies and excludes duplicate data while allowing true reconciliation updates to enter the workflow. This approach to "delta" identification eliminates the importing of erroneous exceptions and the time lost investigating them. Electra Reconciliation also manages the migration of exception management-related material between the historical data in the solution and all incoming delta updates. This important feature safeguards the integrity of the investigation audit trail.
“Until now, investment managers have had to revisit exceptions that have already been investigated and corrected in their core systems, introducing redundancy to the reconciliation process. The value of an intraday reconciliation process is that it eliminates many of the risks associated with waiting for an overnight upload to clear the breaks,” says Todd Sloan, Senior Vice President at Electra. “Our solution takes a lot of the complexity out of the current process.” Intraday Reconciliation is the latest enhancement to the award winning Electra Reconciliation in 2016. Earlier this year, Electra won both the Best Reconciliation Management Provider in Waters Technology Rankings and Best Reconciliation Solution in the FTF News Technology Innovation Awards.