Reconciliation should be simple, smart and reliable, but all too often it’s complex, time-consuming and inconsistent. Moreover, business operations are under massive pressure with shrinking settlement cycles and growing transaction volumes. Try these five bold steps in your transformation strategy to drive more efficient and agile reconciliations.
Five Steps to Redefining Reconciliation
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RECONCILIATION, COVERED.
That’s how we see the future at FIS® – and we’d love to help you get there.
Contact us to find out more about our mission to redefine reconciliation and take data integrity to the next level.
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Standardize task processing
Reduce key person dependency
Get the most from automated reconciliations with a template-based approach. Handle common processes with standard reconciliation models that define the reconciliation lifecycle each step of the way. Using models across your business will make setting up and rolling out new reconciliations faster, establishing best practices and improving control.
1. Stick to standards
Race through the approval process
Speed up everyday reconciliation tasks
Let reconcilers concentrate on higher-value tasks and use artificial intelligence (AI) to reduce or eradicate unnecessary manual matching. Solutions powered by machine learning, a branch of AI, can pick up how your human reconcilers manually match items, predict how they would act in various scenarios and ultimately perform matching tasks automatically for your final review.
2. Stop matching manually
One-click navigation from balances to transactions
Speed up intraday matching, exception management and account proofing with the latest, most innovative digital technology – and recharge operations as a result. At the same time, trust one-click navigation to race you through high volumes of items and take you straight to review, approval and exception management tasks, even accessing sophisticated reconciliation solutions on the go.
3. START MOVING FASTER
Love your reconciliation system
As well as helping accelerate your performance, slick modern interfaces make reconciliation solutions easier to learn, master and get around, reducing training requirements and reliance on key resources. Plus, your reconcilers will find them more engaging to use. So what’s not to like?
4. Enjoy the user experience
Trust a reconciliation expert
For truly streamlined operations, choose a managed reconciliation service. As well as hosting, configuring, maintaining and regularly upgrading your solution, services can collect and prepare reconciliation data, make certain processes run as they should – or manage the reconciliation process from end to end.
5. Outsource to experts
©2023 FIS FIS and the FIS logo are trademarks or registered trademarks of FIS or its subsidiaries in the U.S. and/or other countries. Other parties’ marks are the property of their respective owners. 2301584
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FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.
About FIS
©2024 FIS
FIS and the FIS logo are trademarks or registered trademarks of FIS or its subsidiaries in the U.S. and/or other countries. Other parties’ marks are the property of their respective owners. 2870888
linkedin.com/company/fis
twitter.com/fisglobal
www.fisglobal.com/contact-us
www.fisglobal.com
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, absolute performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index.
About FIS
©2024 FIS
FIS and the FIS logo are trademarks or registered trademarks of FIS or its subsidiaries in the U.S. and/or other countries. Other parties’ marks are the property of their respective owners. 2870888
linkedin.com/company/fis
twitter.com/fisglobal
www.fisglobal.com/contact-us
www.fisglobal.com/securities-and-investments
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, absolute performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index.
About FIS