Business Needs
- Downloading of statements from multiple sources in different formats
- Maintaining audit trail for all inputs used in reconciliation
- Reconciliation at a plan level on daily basis
- Flag discrepancies
- Ability to make manual intervention, if required
- Auto generation of reconciliation statement for client delivery
Key Features
- Automated download of 300 plus files from various sources on daily basis
- Configuration Management: Ability to onboard new clients, update mapping required for standardization and data ingestion
- Maintaining point in time snapshots for traceback
- User Worklist: For exception management and work distribution
- Reports: Control and monitoring reports for reconciliation process status
Benefits
- Reduce exposure and risk – Process moved from monthly to daily reconciliation
- Complete audit trailing
- Accuracy of reconciliations
- Reduction of manual effort: 60%+ savings
Company Background
A leading global professional services firm providing a broad range of risk, retirement and health solutions. The company specializes in HR benefits consulting and outsourcing
Offering Categories
By Use Case- Operational Efficiency
Services
- Data Modernization Advisory