Reconciliation and certification are normally two separate processes. Integrating them as a single process is a crucial move that significantly improves accuracy and confidence in the data being attested/certified. It allows the data to be traced to its source throughout the entire financial close life cycle – from data ingestion through matching, exception management, reconciliation, certification and signoff.
Frontier™ Reconciliation: Account Certification is a fully-audited workflow-based solution to manage the review and approval process for reconciliations. Encapsulating industry best practices and accepted compliance frameworks, Account Certification delivers critical visibility and transparency into reconciliation controls and the associated supervisory and attestation processes demanded by regulatory compliance.
With Frontier Reconciliation: Account Certification, organizations can automate critical financial processes and controls, simplifying the adoption of a sound financial governance strategy and completing the transaction matching, exception management and reconciliation life cycle. Finance executives can attest with confidence as they are able to see all the data in a single system.
Enforce controls for accounts being reconciled at a detailed transaction level where only balances are provided for attestation, or even reconciliations that are being performed manually
Enable a single, accurate view of the entire balance sheet regardless of how or where reconciliations are completed
Achieve compliance with even the most stringent internal control audit practices
Manage controls via an audited, open framework supporting current and historical analysis of reconciliation results
Account Certification is designed to seamlessly integrate with Frontier Reconciliation or accept reconciliation data from existing in-house solutions.
Download the brochure to see how Frontier Reconciliation: Account Certification automates critical financial processes and controls, simplifying the adoption of a sound financial governance strategy and completing the transaction matching, exception management and reconciliation life cycle.
Pacific Life added Frontier Reconciliation: Account Certification to manage review and approval processes with a clear audit trail to track sign off on certifications.
Meritrust Credit Union dramatically grew their asset base and cut processing time in half with Frontier Reconciliation. Watch the video to learn about their success.
Manual reconciliation is still a reality for many finance and operations teams. By automating reconciliation, financial institutions have an opportunity to streamline processes and prepare for future growth.
For more information on Frontier Reconciliation: Account Certification, complete the short form below.