Don’t Wreck Your Recs

Rise to the challenge and perfect your financial controls regime

AutoRek is more than
a reconciliation tool.
It provides the perfect
Golden Source for
all of your financial
control data.

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About AutoRek
AutoRek is a leading provider of financial controls and regulatory reporting software solutions.

We help firms to know their data, understand their data, and be able to report completely and
accurately on their data.

We offer four core products, which can operate seamlessly together or on a standalone basis,
including:

• Award-winning automated reconciliations solutions

• High performance cash applications

• Data migration

• Account attestation

• Regulatory compliance products

This presentation features our market-leading automated reconciliations solution - AutoRek®.

AutoRek®
RECONCILIATIONS
Powerful solution delivering
advanced matching,
workflow, case management
and MI capabilities
Klear™
AEOI & TRANSACTION
REPORTING
Client management tool providing
compliance for account opening,
AML as well as FATCA and Common
Reporting Standards (CRS)

ReKognize™ VanguARd™
ACCOUNT ATTESTATION ORDER TO CASH /
Delivering transparency and CASH APPLICATION
accountability to your account
ownership. Automated cash allocations and
suppliers’ statement reconciliation.

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AutoRek Reconciliations
Implemented across many of the world’s largest corporations, AutoRek comes complete with:

• Easy-to-use data loading and preparation functionality

• Advanced matching capability

• Workflow

• Case management

• Management information (MI)

Our range of reconciliation deployments vary from sophisticated intercompany reconciliations

to high volume bank reconciliations, and calculating and reconciling daily client money
requirements.

A frequent business case for AutoRek is to improve compliance, governance and transparency,
and reduce the financial and operational burden of regulation.

Typical AutoRek implementations are dramatically shorter than similar systems and businesses
can realise the benefits of their investment within weeks rather than months or even years.

AutoRek® Klear™
RECONCILIATIONS
Powerful solution delivering
advanced matching,
workflow, case management
and MI capabilities

ReKognize™ VanguARd™

4
Some AutoRek Clients
We work with our customers’ existing systems to help complete and perfect their
financial and operational control regimes.

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Don’t Wreck your Recs:
9 Common Pitfalls
Reconciliations form the foundation of a tightly controlled finance or operations department in any organisation.
Transparent, up-to-date and accurate financial data is not just essential for regulators or auditors but it is increasingly an
important tool for the executive branch to shape corporate strategy.

However, the process for doing so is often far from perfect. This can be difficult due to a whole host of reasons.

Building an automated reconciliation framework can be an expensive, complex and time consuming process, tying up
crucial business and IT resources with often the wrong result being delivered.

01 02 03
Manual reconciliations Difficulties handling Complexity of collating
processes are time high volumes of multiple sources with
consuming and prone reconciliations varying file and/or data
to error formats into a single place

04 05 06
Limited data Inability to apply No way of identifying,
enrichment possibilities complex, multi-step handling and/or
matching rules managing exeptions

07 08 09
Lack of automated Not enough time to Inproper use of key
escalation processes create meaningful staff skills
reports

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Don’t Wreck your Recs:
AutoRek’s Solution
At its core, AutoRek offers a unique solution that is tailored to the business, which is easy to use and can be deployed
within a short space of time. The system has been designed to be self-configured to your needs and does not require
any programming skills. Once in place, you can re-use AutoRek’s functionality to maintain existing reconciliations and
build new ones.

AutoRek can solve your manual reconciliation challenges by providing:

01 02 03
Fully automated No data or All data sources and
approach to reconciliation volume formats can be easly
reconciliations constraints imported into a single,
centralised data mart

04 05 06
Data enrichment for Ability to apply Operational processes
matching and reporting complex, multi-step move reconciliation
purposes matching rules focus to exeption
management driven

07 08 09
Individual case Bespoke dashboards Freeing up key staff
handling including and reports to focus on their core
escalation workflows activities

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AutoRek - A Golden Source of Data
AutoRek is more than a reconciliation tool. It provides the perfect Golden Source for all of your financial control data.

The system imports of all of your data in any source, explodes or disaggregates the data to the lowest granular level
and enriches the records through look-up tables. All of the processed records are then fed into an account structure
allowing you to view your data at balance or transaction level. The user defined match rules are then applied
producing matches and exceptions to be investigated.

AutoRek’s exception management process will highlight any process flaws and pinpoint the cause of the issue
allowing both business and IT groups to remedy the problem. Simple, powerful and user defined dashboards can be
configured to manage exceptions on a case by case basis, provide management oversight at balance or transaction
level and displays system KPIs to monitor the health of the business rules.

The following 6 slides will take you through this process.

ESCALATE
SOURCE

INTEGRITY

EXPLODE

ACCOUNT
ENRICH
Iterative process
Continuous Improvement

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 SOURCE EXPLODE ENRICH ACCOUNT CHECK ESCALATE

AutoRek is an extremely powerful tool that can import any data format.

This ranges from the common CSV or Excel files to SWIFT messages, paper or PDF files and can even be directly
connected to other databases. We can also plumb in your Outlook server to receive data files sent via email.

Our AutoRek consultants have extensive experience of setting up data imports and will assist you in this process.

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 SOURCE EXPLODE ENRICH ACCOUNT CHECK ESCALATE

We usually advise our clients to reconcile their data at the most granular level possible. By disaggregating the data the
reconciliation process becomes easier and, more importantly, the correct identification of exceptions for remediation is
more detailed.

BALANCE $100

Transaction Transaction Transaction Transaction Transaction

Amount $17 Amount $6 Amount $30 Amount $25 Amount $22

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 SOURCE EXPLODE ENRICH ACCOUNT CHECK ESCALATE

Data enrichment is not only crucial for reconciliation purposes but is also a valuable
tool to create a golden data source.

• Data Enrichment possibilities may include:

• Foreign Exchange (FX) rates, including revaluations

• Econometrics

• Client Static Data

• Product Data

• Risk Ratings

• Market Data (MDM)

Transaction Data AutoRek

Data Enrichment Record

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 SOURCE EXPLODE ENRICH ACCOUNT CHECK ESCALATE

The account structure used in AutoRek is based on the user’s requirements. The system requires that any of the one-
to-one, one-to-many or many-to-many match rules are applied by using the ‘we’ and ‘they’ account format in its’
simplest form—any one sided match rules can be used with just one account.

Data Accounting Account

Source A Records A

Data Account
Balances
Source B B

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 SOURCE EXPLODE ENRICH ACCOUNT CHECK ESCALATE

• AutoRek’s easy to use business rules wizard allows user to determine their own matching
criteria based on their own requirements.

• Matching can be one-to-one, one-to-many or many-to-many.

• Multiple match rules are applied to the data pool sequentially based on the end users
prioritisation.

• The system groups the data records and once automated matching has been completed,
users are able to perform manual matching using AutoRek’s unique ‘suggested match’
functionality.

• Post matching residual breaks can be categorised using labels, e.g. known differences such as
timing errors can be labelled as ‘timing’ allowing for greater operational efficiencies

Account A Matches

Account B Exceptions

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 SOURCE EXPLODE ENRICH ACCOUNT CHECK ESCALATE

AutoRek provides an intelligent exception management workflow that is self-configurable based on the user’s needs.
This process allows users to assign breaks to a person or a team to resolve, assess the impact and analyse the
outcome of the break, as well as prioritising the investigation and resolution of the break.

As a secondary step, AutoRek is also capable of auto-posting accounting entries to your ERP system. An example of
this would include match tolerance differences requiring write offs.

As mentioned overleaf, the automated break labelling process can also trigger workflows that can complement your
organisations own operational target operating model. Continuous labelling will highlight any recurring upstream data
issues at source and assists you in building a case for the problem to be rectified.

Why AutoRek

AUDITABILITY BUSINESS COMPLIMENTARY SYNCHRONISED RULES HIGH ROI

PROCESSES BASED VOLUME

Audit rigour and Ensures business Co-exists with other Always in sync Flexible rules, High volume Rapid deployment
full traceability processes are controls solutions with core systems, permissions, capability can allow and payback
of transaction captured and and extends their maintaining Target tolerances and perpetual real-time
lifecycle followed usability Operating Model labels reconciliation

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Benefits of using AutoRek

Data Sourcing Reporting

Matching Exception Handling

100

90

80

Analysis of 70
FTE effort % 60 Relative
Effort
50

40

30

20

10

0
Before After

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In the immediate period post implementation, many clients experience a doubling of capacity to handle volumes of
transactions and exceptions.

With additional process re-engineering, changes to data capture and other initiatives, that capacity can be doubled again.

Data Sourcing Reporting

Matching Exception Handling

200

180

160

Analysis of 140
FTE effort % 120

100

80

60 Capacity
40

20

0
Before After

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Benefits of using AutoRek
• Improving staff productivity, resource planning and management

• A change of emphasis to focus on underlying data and processes

a Improving compliance with regulation

a Reducing financial and operational burden of regulation

a Reducing production costs of management information and the reliance on IT to cut data and produce reports

a Faster error detection, default detection and recovery speeds

a Creating capacity for increasing business volumes

a Improving speed and quality of management information

a Demonstrating and monitoring stronger financial controls

a Improved visibility of adherence to service level agreements

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Find Out More
One of our industry experts can discuss your organisation’s reconciliations
requirements in more depth. A confidential discussion or a brief demonstration of
our software can give you an idea of how we approach its challenges.

To find out more, please contact us:

marketing@autorek.com
+44 (0)845 603 3613
www.autorek.com/demo

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Glasgow Office Edinburgh Office London Office +44 (0) 845 603 3613
193-197 Bath Street 14 Torphichen Street 8-9 Lovat Lane www.autorek.com
Glasgow G2 4HU Edinburgh EH3 8JB London EC3R 8DW