To increase operational efficiency and control, forward-looking institutions are integrating their reconciliation and attestation processes to provide a single version of the truth based on accurate, real-time, transaction-level data.

Large financial services institutions typically use multiple, stand-alone systems for reconciliation and attestation.

To import the right data into the attestation system at the right time, institutions typically take snapshots of balance-level data from the reconciliation system and other systems where accounting data is stored. Often, this process relies on completely manual tools, such as spreadsheets, which increases administration workloads and costs and increases the risk of errors.

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