SmartStream updates reconciliation platform
16 October 2017 | 1458 views | 0
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced the launch of its latest reconciliations solution.
The third major release of its TLM Reconciliations Premium solution comes with a range of services to meet customer requirements for a flexible self-service user experience, comprehensive trend analysis for match rate optimisation and exception reduction, and model choices for each reconciliation - allowing customers to easily shape and form the solution in an innovative way, whilst optimising costs and operational overhead.
The latest release continues SmartStream’s investment in providing a wide-ranging reconciliation solution, delivering additional business benefits at every stage of the lifecycle. A new feature, TLM View, provides a flexible, user driven approach to analytics, with no reliance on IT support, allowing access to the full range of real-time and historic data in the reconciliation repository - this will help identify trends and exception patterns to further reduce manual intervention. TLM View also delivers full operational functionality in one single interface, driven by flexible dashboards and fully customisable by business users.
Another key element of the latest release is TLM SmartRecs, SmartStream’s rapid onboarding and automated match rule creation solution - which now has further features, including data transformation functions and enhanced analysis of incoming data. TLM SmartRecs allows business users to independently model new reconciliations or fine-tune existing reconciliations to improve outcomes.
Rocky Martinez, CTO, SmartStream, states: “With the latest release of TLM Reconciliations Premium we have the infrastructure to allow for robotic process automation (RPA) and have the ability to view distributed ledger information. This is what we view as the future as it becomes industry standard for our customers.”
TLM Reconciliations Premium now provides a choice in how each reconciliation is persisted, TLM Persist offers alternatives that range from a supported relational database management system (RDBMS) to lighter storage options. Regardless of persistence choice, all reconciliations can be accessed through the same user interface, which allows the management of costs and operational overheads, without the need to compromise on user experience.
It has already been in testing with customers and feedback has been positive for the solution which has high operational excellence, scalability and ease of deployment - customers find the solution easy to use and can expect to realise the benefits within the calendar year.
Haytham Kaddoura, CEO, SmartStream, commented; “This major release positions SmartStream with a unique offering, rather than relying on multiple vendors to provide a range of services, we provide a complete and comprehensive package with enhanced features and functionality already built-in. As the first software/service provider to offer an industry-led, purpose-built utility, this new version of our award winning TLM Reconciliations Premium solution is the result of what we have learned over the years combined with what our customers have asked for, creating something unmatched in the marketplace.”