RecWise - Account Reconciliation Management Software
Increase productivity, gain visibility and take full control over the core of your financial close process. RecWise is an enterprise level Account Reconciliation solution used to reconcile account balances against outstanding amounts whilst simultaneously managing the entire process and its outcomes.
Eliminate Manual Processes
Many organisations still manage their End of Period Account Reconciliations manually, often with very few operational controls and minimal business visibility. RecWise streamlines the reconciliation process by providing complete visibility of all active balance sheet accounts. This enables a standardised approach to reconciliations across the different operational divisions of the business, providing global transparency and control of accounts at every stage of the process.
Reduce Risk Through Controlled Workflow Processes
The various user roles within RecWise allow for the segregation of duties in preparing and reviewing reconciliations to meet audit requirements. This, along with the accessibility of all historical data and attachments for supporting documentation, simplifies the audit process.
Innovation
A unique innovation of RecWise is the use of Microsoft Office Web Components (OWC) in the delivery of Excel Templates embedded within the Browser for entering and submitting Reconciliations.
Reconciliation processes generally require a variety of data to be entered to support each reconciliation - by using the flexibility of Excel this enables the core functions and processes of Account Reconciliation to be conducted, while still allowing for corporate process management.
By using these OWC components - RecWise allows the data capture area to be as flexible as your business needs - without the need for Software Vendor Modifications or Application Changes.
Giving your business the power and ability to control change and allow for up-scaling based on future needs.
Auto-Complete Functionality
The auto-complete functionality within RecWise removes the need for manual preparation and review altogether. Reconciliations are automatically completed when they meet specific balance rules and a narration is displayed in the reconciliation to indicate the reason for passing or failing to auto-complete.
Feature-Rich
Other significant features include frequency settings for individual reconciliations, ageing of reconciling items and rework functionality.
Click here for more information on the many other features RecWise has to offer.
Testimonials
How RecWise improves the reconciliation process for QueenslandRail:
- Enables entire visibility over the current status of all reconciliations
- Reduces physical storage issues as reconciliations with their supporting documents
are electronically maintained
- Provides ease of access to internal audit, external audit and key staff across the finance team
Stacey Lamb, Treasury Accountant, Finance, QueenslandRail
How RecWise improves the reconciliation process for BHP Billiton:
- Aligns to finance processes
- Global standardisation of and access to reconciliations
- Satisfies audit and SOX Section 404 requirements
- Enabler of BHP Billiton's goal of a paperless office
- Performance reporting enables employee KPI's to be developed
- Very intuitive and easy to use
Evelyn Pearse, Global Rec Admin Specialist, Financial Services Adelaide, BHP Billiton
To Request A Demo or for More Information
To find out how RecWise can benefit your organisation please register your interest here.