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 Smonik RECON

SMONIK RECON is a powerful, enterprise wide solution with capabilities to reconcile any multiple of data sets.  Typical reconciliations include Position, Cash (Balance and Transaction) and Trade Activity, however, our clients have also utilized Smonik to reconcile many other scenarios such as dividends, interest and commissions. Smonik can also be used as a control mechanism to independently calculate values such as commissions or fees on managed accounts and compare to what was actually charged.  Smonik Recon facilitates data processing in a systematic and consistent manner and removes reliance on error prone spreadsheets or manual data entry.

  • Setup of recon is 100% in control of user.  All setup functions are included User Interface.
  • Format and transformation of data is 100% in control of user.  All functions are included in User Interface.
  • Data acquisition (file retrieval) integrated with Recon.  Recon begins once files are received.
  • Rich functionality for reconciliation and exception management.
  • Users can configure reports through User Interface or use standard dashboards/reports.
  • Sophisticated exception handling includes email alerts, case creation, seamless flow into period end reconciliations and   journal entries.
  • High volumes – Smonik’s matching engine easily handles tens of millions of transactions in each pass.
  • Flexible, rules-driven matching criteria to allow user to control configurable matching logic.
  • Periodic archive based on user defined time periods.
  • Other Benefits:
    •    Creates significant efficiency and control to a typically manual, labor intensive,  process
    •    Ability to utilize 2 level sign-off on all recons
    •    Provides a complete audit trail and improves Fund and/or Management Company audit process