Boston, Feb. 1, 2012 (GLOBE NEWSWIRE) -- Smonik Investment Systems, LLC. , a leading provider of integrated back office technologies to the alternative investment community, today announced that it has released its new cash reconciliation component. The new component expands the functionality and overall integration capability of the Smonik platform by allowing firms to automate and streamline the reconciliation of their cash accounts.
"To meet the needs of our clients and the complexities of today’s reconciliation needs, we’re expanding our reconciliation module," said Sethu Bijumalla, CEO of Smonik Investment Systems. "Clients can reconcile their various positions/cash/trades and other transactions with clients, brokers, administrators, or other 3rd party data. As we continue to enhance our platform, we remain focused on providing an incredibly open and flexible tool that is not only powerful but also very user friendly. We have built a product that is meant to be used by the people who work with the data on a daily basis."
The Smonik platform has become an essential part of the back office operations for Alternative Asset Managers and Administrators of all sizes. The suite is a fully integrated, open solution that provides these firms with true Straight Through Processing technology.
Smoniks Cash Reconciliation Key Features:
- Comprehensive cash reconciliation and exception management. Multi-directional reconciliation to any party. E.g. Fund <-> Broker, Broker <-> Administrator, Fund <-> Administrator.
- Streamlined, automated data retrieval, transformation, and loading of account transactions and balances into the cash reconciliation module.
- Intuitive user interface. Designed to allow users to manage accounts and exceptions easily and efficiently.
- Sophisticated exception handling includes email alerts, case management, and the ability to post correcting journal entries directly into your accounting system.
- Facility to define pre-validation rules, tolerances, and matching criteria.
- Comprehensive reporting. Includes reporting on exceptions, unmatched transactions, aged breaks, carryover breaks, workflow status, and a management dashboard.
- High volumes - Smonik’s matching engine easily handles millions of transactions on a daily basis.
- Archive module provided that allows matched transactions, associated exceptions and case management activities to be archived in a scheduled, automated fashion according to data retention and other compliance needs.
About Smonik Investment Systems:
Founded in 2008 Smonik Investment Systems is financial software and consulting firm that specializes in providing innovative solutions to the alternative investment community. We work with firms that are looking to reduce their operating costs and improve efficiencies with their back office operations. By coupling our deep financial industry experience with our state-of-the-art technology platform we are able to help our clients transform the way they gather, manage, distribute and communicate information both internally and externally.
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For more information or to schedule a WebEx demo please contact us at (781)-449-1443, or email sales@smonik.com you can also visit our website at www.smonik.com