The Need
Reconciliation of accounts in any company usually involves a large number of people, manually reconciling the entries
- Longer time to reconcile data
- High effort/resource consumption
- High Cost – Low Quality
- Non-Standard Processes
- Dependence on Good Accounting Skills
The Strategy
- Futuresoft has vast expertise in implementing and deploying customized Reconciliation solutions for many clients.
- This has resulted in evolution of great products - “RecoFlex” & “RecoLite”
- We can help you extend Recon beyond accounting to inventory, stocks, telecom, sales…
An automated system would provide the following benefits:
- Improved accuracy
- Greater control
- Improved efficiency
- Decreased costs
- Easy identification of entries causing account balance discrepancies
- Timely MIS reports
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RecoLite
- Reconciliation system that automates account reconciliation process to a large extent, thereby cutting down time and dependence on manual reconciliation expertise.
- The benefits derived are:
- Improved accuracy through process standardization
- Greater control through Reviews, Escalations & Approvals
- Improved efficiency - Decreased costs
- Easy identification of entries causing account balance discrepancies
- Reconciliation criteria can be customized during implementation
- Flexibility of Multi-Accounts.
- Timely Web-based MIS reports
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RecoFlex
- Reconciliation system that automates account reconciliation process to a large extent, thereby cutting down time and dependence on manual reconciliation expertise.
- Also includes a web based efficient component for Reviews, Maker-Checker and Escalation capabilities.
- The benefits derived are:
- Improved accuracy through process standardization
- Greater control through Reviews, Escalations & Approvals
- Improved efficiency - Decreased costs
- Easy identification of entries causing account balance discrepancies
- Flexibility of Multi-Customers with Multi-Accounts.
- Account Reconciliation allows Multiple Rules that can be parameterized by user.
- Timely Web-based MIS reports
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