TCS BaNCS for Reconciliations

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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