White paper: The Reconciliation Maturity Model: Part 2 – onboarding and configuration
Conquer onboarding challenges and elevate data reconciliations.
Firms that can onboard new reconciliations quickly are more agile and have more efficient operations. But onboarding is a tricky task. Data is growing in both volume and complexity, and traditional reconciliation technology is no longer able to keep up.
It takes nearly 74 business days on average to onboard a complex reconciliation. That’s time most companies don’t have, so they are forced to rely on manual processes to plug the gap.
It’s time to view technology as an enabler of progress, rather than a barrier to it. Advances in areas such as no-code solutions and machine learning have made it possible to onboard reconciliations in an entirely new way.
This white paper delves into:
- Why firms currently struggle to onboard reconciliations, and why it takes so long
- A typical onboarding process
- The need to futureproof onboarding
- How new technology can drive change in reconciliations
- The game-changing features of new reconciliation solutions
- How onboarding impacts the 5 stages of maturity
Automation with the right technology can reduce the time taken to onboard a new reconciliation from days and weeks to hours. Once this is achieved, the door is opened to new opportunities and efficiency to flow through the whole enterprise.