Yes, Smonik can extract data from these and many other document types, including K-1’s. Not only can we automate the extraction of data, we can also automate the retrieval of data from websites, FTP sites, network folders, and emails.
When the data is extracted, the user can control the output. Data can be saved to a file on a network drive, imported to the Smonik database for reconciliation and/or reporting, or integrated with other downstream systems (such as an in-house accounting system.)
Many of the statement formats from the larger private equity administrators have already been mapped and are ready to use out-of-the-box.
We can either install the application within your firewall/network or we can host a private cloud for you. The private cloud would be exclusive to your IP addresses (locations) and would contain only your data.
Yes, you can reconcile extracted data to any third-party system. Smonik will work with you to configure reconciliation rules and develop a workflow that is specific to your needs.
Yes, after we extract the data, we can normalize it and transform in-coming account id’s, account names, fund names, security types etc. to your standard. You can maintain these mappings on the UI or can automatically update them from existing systems.
Yes, you can customize output data to your specific needs. From column definitions to date formats to standardizing names, you can configure output to any imperative.
Smonik can manage all data and number formats and can convert in-coming formats to your standardized ones.
Yes, we can add steps for data verification and can verify extracted data against previously extracted data or verify extracted data against third-party systems / webservices.