Regulatory requirements, and the risks associated with issuing incorrect financial statements, mean organizations must be able to demonstrate robust financial controls and have confidence in the accuracy of the entire balance sheet. Organizations equipped with the right exception management software and financial reconciliation capabilities can meet these challenges.
Frontier™ Reconciliation from Fiserv provides a powerful state-based processing engine that uses configurable rules to check large quantities of financial data for accuracy against anticipated results. The solution supports all account and transaction types, is fully multi-currency enabled, and provides financial control through automation of the account and balance sheet reconciliation process.
Benefits of Our Exception Management Software
As financial reconciliation and exception management software, Frontier Reconciliation employs a powerful state-based processing engine that uses configurable rules to check large quantities of financial data for accuracy against anticipated results. Users can expect the following benefits from Frontier Reconciliation:
- Significant increase in productivity by automating this process; operational efficiency can increase by 60-80 percent, enabling employees to focus on high-value tasks such as exception resolution
- Reduced risk through automated financial reconciliation processes, cutting in half the risk of errors resulting in financial loss and providing staff with a clear path to resolution
- Integration with other core platforms and Prologue™ Financials or other GL
- Increased compliance by providing a clear audit trail of actions taken throughout the financial reconciliation and exception management process, reducing write-offs by 75 percent