Q&A: Financial data reconciliation – new mindset, new technology
Summary
In our experience reconciling manually in spreadsheets might work only in simple reconciliation scenarios involving few criteria and matching based on exact amount. Period-end close workflow relying on emails running back and forth, spreadsheets and signing off printed copies makes it difficult for management to track progress or prove consistency of the activities. However, it soon became clear that ReconArt, due to built-in configurability, makes a perfect fit for insurance companies and brokers, investment management firms and the global financial services ecosystem. The pandemic has affected adversely the travel, tourism & leisure industries – another key client segment of ours, but on the other hand, healthcare and e-commerce yielded soaring demand. The business consultancy, BPO and fintech community have detected them too and partner with ReconArt in search for synergy and new generation value added solutions for the end customer.
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