SMONIK RECON is a powerful enterprise wide solution that allows for Position/Cash/Trade and Generic Reconciliation and reconciles your various positions/cash/trades/Other transactions with either Client, Broker or 3rd Party data. Smonik Recon facilitates data processing in a systematic and consistent manner, and removes a funds reliance on error prone spreadsheets or manual data entry
- Financial data retrieved through Files and Messages via SMONIK-DMS
- Data transformations and normalization via SMONIK-ETL
- Reconciliation and exception management
- Facility to define pre-validation rules and selection criteria based on data input
- Separate reporting for exception cases like, unmatched transactions, out of range criteria or transactions which failed data validation rules
- Sophisticated exception handling including email alerts, case creation, seamless flow into period end reconciliations, and journal entries.
- High volumes – Smonik’s matching engine easily handles tens of millions of transactions in each pass.
- Flexible, rules-driven “match sets” to allow any type of matching, across other functional areas.
- Provides as standard an Archive module that allows matched transactions, and all their associated exception and case management activities, to be transferred in a scheduled, automated fashion to the archive according to data retention and other compliance needs at whatever timetable you need.
- Provides comprehensive reporting and analytics via pre-built reports that users often use and through user configurable reports.
- Powerful ad-hoc reporting capabilities
- Daily digest reports that require attention of users, managers, executives etc can be viewed on Home dashboard or optionally be delivered to users inbox via emails.
- Other Benefits:
- Provides critical control for compliance and financial reporting.
- Replaces spreadsheet processes
- Instant visibility into status and progress of reconciliations.
- Easier Audits
- Automation reduces labor and cost.