Account reconciliation Process

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This is something we have been working on during last 2 months with a good degree of knowledge for us.

First step was to define groups of requirements we cover with the existing tool and the desired requirements.

  • Data integration (from SAP, from different sources of information, integrity of new data, )
  • Configuration & Support processes
  • Reconciliation process (reconcilers, reviewers, management of group of LEs, groups of accounts)
  • Security processes & Activities (personalized assignment, per accounts and per LEs)
  • Reporting (Reports generation, personalized ad-hoc, standard, analytical reports, dashboards)
  • SaaS, In-house implementation and Outsourced

So many things to review and to learn about this SOX compliance Process.

Later on we review 4 solutions of the market that finally were reduced to the 2 best in class. As our customer said to us: they are head hunters and we are their triumphs.

Now reviewing for each solution:

  • The pricing models.
  • Discovering the activities proposed for each implementation project and its price.
  • Service support levels
  • Availability and redundancy provided,
  • Studying the investment required in first 2 years
  • Understanding the TCO.
  • and more….

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