Smonik Recon is a powerful, enterprise wide solution with capabilities to reconcile any 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 then compare them 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 in the User Interface.
- Format and transformation of data is 100% in control of user. These functions are also included in the User Interface.
- Data acquisition (file retrieval) is integrated with Recon. Recon begins automatically once the files are received.
- Rich functionality for reconciliation and exception management.
- Users can configure reports through the 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.