Top 10 Reconciliation Consulting/Services Companies - 2019
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Arcesium Data-Driven Reconciliation: A Modern Approach to Financial Management

Top 10 Reconciliation Consulting/Services Companies - 2019

The changing regulations coupled with evolving technologies are making reconciliation platforms as one of the most critical elements of the financial industry. On the flip side, while most financial institutions use advanced accounting systems to automate general ledger and accounting processes, reconciliation and certification processes are still completed using a spreadsheet. However, as data volumes grow and regulations become more stringent, organizations must make their reconciliation process swift, accurate, and effective. By automating the reconciliation process of corporate accounts, financial institutions can boost the speed of one of the most time-consuming tasks in any finance and accounting department.

In this present era of the digital transformation of financial activities, automating daily workflows can save time as it cuts down on the multiple rounds of paperwork previously required to verify and certify financial information manually. Teamed with Machine Learning (ML) and Natural Language Processing (NLP), automated reconciliation platforms are significantly reducing the error almost by half. This has further promoted better visibility of the vast amount of data and rapid resolutions in terms of exceptional issues, preventing manual interventions in the process. Additionally, today the cloud-based reconciliation processes enable accountants to access data more efficiently and provide an up-to-date overview of the current status and overall close process.

With blockchain-powered reconciliation platforms, organizations are now more capable of streamlining their reconciliation processes. Auditors are now capable of sharing datasets because of the integration of blockchain with reconciliation platforms, allowing them to complete tasks in real-time. Other features of the advanced reconciliation platforms used today include comprehensive trend analysis that optimizes the match rate and lowers the number of expectations. Most organizations also set materiality thresholds and tolerances to avoid wasting time in reconciling low dollar values. The need for manual intervention is further lowered as exceptions on the platform are immediately visible across the enterprise. All these developments are aimed at a single objective—shortening the financial closings, without compromising on the quality. Automated reconciliation platforms have also significantly lowered the risk of financial misstatement with their transactional-level matching feature.

Understanding the changing times, Capital Markets CIO Outlook has compiled a list of 10 Reconciliation Platform Solution and Service Providers to guide banks and other financial institutions in harnessing the power of technology to tackle today’s reconciliation challenges, reduce workload, and increase efficiencies. And as new technologies are developed at a rapid pace, we are glad to feature the Reconciliation Platform Solution and Service Providers that are at the forefront of revolutionizing the capital markets in the financial sector through their groundbreaking reconciliation solutions and services. We hope this issue of the Capital Markets CIO Outlook helps you build the partnership needed to foster a technologically-driven financial environment.

We present to you, Capital Markets CIO Outlooks’ “Top 10 Reconciliation Consulting/Services Companies - 2019.”

Top Reconciliation Consulting/Services Companies

Headquartered in New York, NY Indus Valley Partners is a leading provider of technology solutions and services to the alternative investment industry. Founded in 2000, Indus Valley Partners'​ client base includes 25 of the top 50 global hedge funds. Specialists in portfolio management for alternative asset managers, IVP offers modular and flexible solutions that can be tailored to the specific requirements of any fund, across strategies and asset classes. From Regulatory Reporting to Portfolio Analytics and Data Management our award-winning solutions unlock value and create insight for Alternative Asset Managers

www.ivp.in

Aqumulate

Aqumulate

Headquartered in Sea Cliff, New York and established in 2006, Aqumulate is an account aggregation platform that collects account information from virtually any online financial portal where a client account is held and delivers this data into third party accounting and portfolio management systems, as well as CRM and financial planning tools. The company is laser-focused on delivering reliable data aggregation. The company leaves the performance reporting, planning, and budgeting up to their integration partners. This open approach to data and integration allows the businesses to pick best-of-breed solutions that work best for the clients' practice and eliminates the issues that arise when an account aggregation provider delivers a feature that overlaps and bumps into the clients' other software

Business Solution Partners

Business Solution Partners

Founded in 1992, Business Solution Partners is a leading provider of enterprise resource planning and e-commerce products and solutions for the manufacturing, financial services, distribution, and healthcare industries. The company delivers complete best-of-class cloud-based NetSuite, Blackline, and Adaptive Insights, as well as CRM and Microsoft Dynamics GP from implementation and support to creating detailed custom applications that are tailored to the organization’s needs. Business Solution Partners help growing businesses realize maximum benefits from their systems, processes, and people. Business Solution Partners identify critical strategic and tactical areas of potential improvement and then devise a plan to address those challenges through process improvement and technology systematically

Nirvana Financial Solutions

Nirvana Financial Solutions

Nirvana is a provider of a cloud-based platform of modular and integrated technology created to streamline the investment process for a wide array of financial firms. The company's clients benefit from a comprehensive suite of front, middle and back-office solutions accessible through a consolidated, efficient, intuitive, and operationally robust dashboard, enabling them to meet and exceed the most stringent investor demands. Their robust and modular accounting, order management and portfolio management system are integrated on a single database and facilitates a continuous real-time workflow

Nolan Business Solutions

Nolan Business Solutions

Founded in 1988, Nolan Business Solution provides enhancements for Microsoft Dynamics GP and NetSuite, as well as full cloud installations for NetSuite specifically for Healthcare and Medical Management organizations. The company has the experience to deliver standard solutions and Nolan add-on modules, as well as straightforward out-of-the-box installations for all products. Our ability to provide proven on-premise, as well as Software as a Service (SaaS) bespoke functionality, makes us stand out from the crowd. The customers rely on Nolan Business Solutions to fill the functional gaps in their business management software

Spalding Consulting

Spalding Consulting

Spalding Consulting, Inc. is a business professional services firm based in Lexington Park, Maryland. The company specializes in the areas of Program Management, Information Technology (IT), Government Financial Management, and SAP Integration Solutions. They have built a reputation for continually delivering quality products and services together with on-budget and on-schedule performance. Moreover, they can also boost the abilities of their experienced, imaginative, and versatile staff to develop rapid and innovative approaches to a range of exacting projects. For each focus area, they offer functional, service-specific expertise in Project Planning, Requirements Management, Database Management, Applications Development and Maintenance, Business Intelligence Reporting and Analysis, Quality Assurance/IV&V, and many more

SS&C Technologies (NASDAQ: SSNC)

SS&C Technologies (NASDAQ: SSNC)

SS&C Technologies is a global provider of investment and financial services and software for the financial services and healthcare industries. The company has been helping investment and financial firms of all types to gain an economic advantage for many years. Grounded in their deep knowledge and understanding of their client’s business, their technology-powered solutions and services help the clients to run their operations more efficiently, compete more effectively, and grow more profitably. Through a combination of organic innovation and strategic acquisitions, SS&C has assembled a comprehensive selection of technology and service capabilities, backed by industry-leading expertise

Vayana Network

Vayana Network

Vayana Network is an electronic network that connects corporate and its supply chain to financial institutions for easy, quick, and low-cost access to Trade Financing of their Payables and Receivables. As a GSP server, Vayana GSP serves several significant corporate and some of the largest financial institutions/banks, in addition to other third party Application Service Providers (ASPs) that have over SMEs routing their API traffic through them. The company is also in a unique position to help logistics companies with their E-way bill compliance as well and work with several solution providers (ASPs) on the same

Verasset Corporation

Verasset Corporation

Verasset Corporation is a provider of asset management solutions. The company integrates professional physical inventory services, cutting edge software systems, and work with industry-leading manufacturers to simplify automating the tracking and managing of the asset throughout their lifespan. Initially, Verasset began as the services are for an asset management firm specializing in asset tracking software systems, incorporating cutting edge technology such as GPS, biometrics, and radio frequency identification (RFID). They invested more in asset tracking software as professional physical inventory services went hand in hand with the asset management software because companies needed to tag their assets and manage their inventory, but didn’t have the time, resources, or experience to do so

VITEOS

VITEOS

Viteos is complexity made simple. The company combines technology with accounting expertise for creating smart, simple solutions for investment operations with the help of a rigorous procedure and innovative technology. They have also successfully transformed the most complex operational problems into seamless solutions across virtually every asset class, currency, border, or structure imaginable. Their client can easily choose from a full range of shadow-accounting, middle- and back-office professional services, fund administration, and technology. The company serves managers from the most complex assets from regions like North America, Europe, the Far East, and the Asia Pacific