While spreadsheets and manual books are globally accepted for decades, most of the banks are realizing the significant interference of automated solutions for operational efficiency, hence resorting to the use of general ledger reconciliation softwares becomes a necessity.
Ascent AutoRecon© which is currently being implemented in UAE, Saudi Arabia, Oman, Bahrain, Qatar, Kenya and Malaysia automatically balances the transaction records with that of General Ledger, using highly intelligent algorithms. It extracts, verifies, validates and matches various types of transactions including, Cash Sales, Bank Statements, Cash Deposits, POS, Commissions, Internal Systems and AP & AR.
Ascent AutoRecon© Cash Management Reconciliation software now instantly provides the treasure with the information to manage the cash position on a daily basis and make the arbitration. With Ascent cash management reconciliation software now banks and financial institutions can reconcile their cash on a daily, weekly, monthly or on demand basis.
The software has the feature to upload multiple data sources from different system and then can perform advances and intuitive management of current account by automatically reconciling the entries to track aged items and identify basis point impact of breaks.
Thus Autorecon© Cash & Liquidity Management software solution is most comprehensive integrated cash management solution currently deployed in banks for UAE, Qatar, KSA, Oman and other GCC countries.