Frontier Reconciliation: Workflow Manager

While exceptions account for only a fraction of total transactions, they often take up the majority of back-office time and expense in reconciliation. This manual, arduous process of exception handling is inconsistent – relying on email exchanges, spreadsheets, even sticky notes – and can lead to costly errors and increased risk. 

Frontier™ Reconciliation: Workflow Manager from Fiserv is a fully integrated workflow and case management solution that provides approval workflow capabilities for exception management. 

With Frontier Reconciliation: Workflow Manager, you can automatically identify, route and resolve exceptions for a faster close and move your organization from a manual control process to an automated exceptions management platform.

Gain more control over rising transaction volumes and related risk with an enhanced exceptions workflow process

  

Identify

Route

Resolve

Frontier Reconciliation: Workflow Manager automatically identifies, prioritizes and assesses problems to resolve reconciliation exceptions, trade breaks, customer inquiries and process failures, then routes and resolves exceptions according to your organization's best practices.

  

Cut Down on Errors

  • Reduce potential for errors by eliminating manual tasks
  • Reduce exception aging and straight-through processing through automated escalation of high-risk items

Enable Your People

  • Notifications and routing for greater team efficiency and productivity
  • More time to spend on value-added tasks
  • Consistent error identification and escalation processes to facilitate cross-resource training

Enhance Internal Controls

  • Improve controls with segregation of duties 
  • Standardize processes through enforced best practice controls

Improve Auditability

  • Enable audited proof-of-progress to support audit and regulatory needs
  • Strengthen compliance through enhanced visibility and detailed audit trail

 

Frontier Reconciliation: Workflow Manager is an essential part of a comprehensive automated account reconciliation solution that tightly integrates with Frontier Reconciliation from Fiserv to fully automate labor-intensive exception-management processes. Together these solutions work to minimize the risk of financial misstatement with transaction-level matching and full audit trail capabilities, and ensure compliance with corporate and regulatory controls.


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