Source: Accurate Software
A positive outcome on a project to automate cash reconciliation at Skandia UK led the financial services group to partner with supplier Accurate Software on an initiative to modernise securities reconciliation procedures.
John Keedy, project accountant, at Skandia says the implementation met all expectations: "Now that we have a reconciliation system that will accept data in bulk, we have better control over the whole process. Reconciliation has been greatly improved by the use of customised matching rules. We have experienced a 40-50% time saving. Spotting exceptions is much quicker now. The solution enables staff to focus on the investigation of those exceptions items, ultimately leading to a faster resolution."
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