The Importance of Reporting & Analytics in the Reconciliation Process

By July 1, 2021 No Comments
Importance of Reporting & Analytics in Reconciliation Process

Reporting is not commonly touted as a key feature of reconciliation tools, and we believe this is because many fail to realize that effective reporting can actually result in an untapped competitive advantage.

At most hedge funds, when an operations team completes a reconciliation, data is collected from different systems to compile various management and compliance reports. However, when it comes to reporting, managers tend to run into several challenges, from difficulty accessing reports in a timely manner and storing historical information while tracking modifications to complexity in collating and processing different sources. Other challenges include the improper use of staff skills for creating multiple reports, the need to create different reports for different stakeholders and lack of actionable insights provided by snapshot analyses.

With the right tools and technology, managers can mitigate these challenges and produce high quality reports that provide them with full visibility into their cash holdings, transactions and trail balances, resulting in effective decision-making across firm-wide functions. By implementing an automated reconciliation system, firms are provided with:

  • The ability to generate break reports for regulators and investors
  • Bespoke dashboards and reports
  • Intelligent analytics to monitor the performance of different asset operations
  • Real-time reporting and scenario analysis
  • The ability to create audit packages
  • Summary and detail-level reporting
  • Historical and trend analysis
  • Support for regulatory compliance and treasury functions

Asset managers are under constant pressure to provide on-demand visibility and status tracking on reconciliations to both investors and regulators in the form of consolidated reports. The quickening market pace has only elevated this pressure with the added expectation to be able to access information on-the-go, in real time, making sophisticated reporting one of the essential pillars of reconciliation solutions and, more broadly, the customer experience across the industry.

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