Reconciliation is a conceptually simple but operationally complex problem to solve. At the end of each day, asset managers reconcile trades, positions and cash balances across multiple counterparties, admins or custodians. Oftentimes, these activities take place manually in spreadsheets or legacy reconciliation tools.
Most funds today practice position reconciliation, bank reconciliation and cash reconciliation on a daily basis as well as month-end reconciliation against their admin. Other types include NAV reconciliation, account reconciliation, trade reconciliation, bank statement reconciliation, transaction reconciliation, real-time reconciliation, credit card reconciliation and SWIFT reconciliation.
More so than ever before, managers need an advanced “any-to-any” reconciliation solution that can reconcile multiple data sources like position, cash, bank, trade, trial balance, P&L, NAV, securities and inter-system. The solution should also have embedded end-to-end automated workflow management capabilities that tag and assign exceptions automatically with a robust audit and multilevel sign-off approval workflow.
As managers replace their manual processes with an efficient reconciliation solution, they will begin to experience several competitive advantages, such as:
- An automated exception-based mechanism to reduce time and effort
- Enhanced visibility into the service delivery of counterparties
- Intelligent insights generated by the system to support counterparty interactions regarding quality of service
- Reconciliation of data across portfolios, counterparties and a range of asset classes
- Sophisticated workflow mechanisms to assigned breaks that enhance each block of the workflow puzzle in order to achieve maximum efficiency
- Dynamic and user-friendly dashboards for a clear picture of the firm’s available cash to enable timely and effective decision-making by the front office
- A smoother compliance reporting mechanism with on-demand visibility and status tracking on reconciliations in the form of consolidated reports for both investors and regulators
- Access to information on the go through a sophisticated mobile application
Discover how you can experience the above advantages with IVP’s Reconciliation Solution by visiting https://www.ivp.in/products/reconciliation-solution/ or contacting firstname.lastname@example.org.
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