A typical PDF document such as a capital statement or capital call notice may take anywhere from 30 minutes to 1 hour, depending on the complexity of the data. Users have access to all functionality enabling them to setup and map documents themselves or Smonik staff can assist them.
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.)
Smonik allows an unlimited number of users. There are a number of installation options ranging from local install within the client's environment, a private cloud, or SaaS (Software as a Service.) Any of these installation options would allow multiple users across locations.
Yes. The Recon Status view and the Break Details view are configurable to inspect all aspects of a recon (including matched and unmatched items) with filtering and grouping established by the user. Within the Recon Configuration screens, the user can set up which fields are available for filtering and grouping.
Yes. Permissions can be set to allow specific users to only have access to the client's data for whom they are responsible.
Smonik includes a “Review” and “Sign-Off” button for each recon. When selected, the user's login credentials appear showing they have either Reviewed or Signed-off on the particular recon. Once the recon has been reviewed or signed-off, the recon data is locked and cannot be edited or changed in any way.
Smonik is designed to handle large volumes of data. Our data retrieval, ETL (Extract, Transform, Load,) and reconciliation components are capable of processing over 1 million transactions, end-to-end, in minutes.
Data can be exported to Excel (with or without header rows) or PDF from either the Recon Status screen or the Break Details screen.
Smonik has extensive tolerance settings which can be set at the most granular level. For instance, if you are reconciling cash transactions, you could set a tolerance for each currency or a separate tolerance for each currency by bank account.
Users have the ability to create new dashboards and/or reports or edit existing ones. Smonik staff will also assist with more complex requests. Custom requests are typically delivered in 1 – 2 days at minimal cost.