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SS&C Technologies upgrades reconciliation product

08 May 2008  |  1795 views  |  0 Source: SS&C Technologies

SS&C Technologies, Inc., a global provider of financial services software and software-enabled services, today announced the launch of Recon 6.0, at the annual SS&C Client Summit in Fort Lauderdale, Florida.

The latest release of Recon delivers an enterprise solution to help the buy-side organization gain visibility into business critical information and realize efficiencies by automating and standardizing reconciliation. Using customized, role-based management dashboards, Recon 6.0 improves workflow and business insight while accommodating high volume, enterprise ready reconciliation.

Hedge Funds, Fund of Funds, and Institutional Asset Managers are seeing a rise in trade volumes and complex products. As a result, manual trade matching and reconciliation processes are leaving buy-side firms exposed to operational risk and unnecessary cost. As these firms move to enterprise operational models, it is essential to have a reconciliation solution in place that ensures communication and knowledge sharing across departments.

"Automating a quality reconciliation process continues to be a challenge for many firms.” said Bill Stone, Chairman and CEO, SS&C Technologies, Inc. “In today’s highly competitive financial services industry, addressing quality reconciliation is imperative. With Recon 6.0, we’re able to help investment firms of all sizes collaborate and reconcile their data in real time, across the globe."

"As the complexity of products traded increases, reconciliation system vendors have kept one step ahead of the curve,” said Phillip Silitschanu, senior analyst at Aite Group. “Matching is no longer a one-to-one exercise, but has become a many-to-many process. Financial firms demand that their solutions, such as Recon 6.0, are able to provide this capability."

Recon 6.0 features an advanced workflow that supports enterprise-wide risk mitigation, strong investigation tools, and an enterprise-ready, Microsoft SQL architecture that can scale to high volumes.

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