Regulatory requirements and the risks of issuing incorrect financial statements mean organizations must have confidence in the accuracy of the balance sheet. Frontier Reconciliation from Fiserv equips organizations with the right exception management software and financial reconciliation capabilities to meet these challenges.
What is Exception Management Software?
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. It forms a complete account reconciliation picture across the enterprise that makes exceptions instantly visible and reduces manual interventions.
Users can expect the following benefits from our exception management software:
- Significant increase in productivity by automating reconciliation; operational efficiency can increase by 60 to 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
- Increased compliance by providing a clear audit trail of actions taken throughout the reconciliation and exception management process, reducing write-offs by 75 percent