Accurate and timely data is fundamental to investment accounting and reporting. Reconciliation is a critical step in confirming that accounting values are correct before they are entered into financial statements and reports. Even seemingly innocuous data errors can result in incorrect balance sheet values, and result in time-consuming and expensive error resolution.
While some reconciliation is better than none, not all reconciliation processes are created equal. Whether an insurer relies on their own spreadsheets, or a solution-provider to assist with reconciliation, there are five key reasons why traditional data validation and reconciliation processes are insufficient for delivering accurate and timely investment data.
Is your reconciliation process daily, automated, complete, streamlined, and detailed? Download this white paper to find out how many reconciliation processes fall short and how Clearwater can help you ensure that your accounting values are timely, trustworthy, detailed, and complete.