AutoRek is a global provider of end-to-end automated reconciliation software, which strengthens the finance operations and controls of financial services firms. Used by the biggest names in finance for over 30 years, the platform helps firms reduce costs, increase control, achieve compliance, and minimise the risk of misreporting.

Our fully configurable, rules-driven platform allows firms to automate and streamline data collection, validation, and reconciliation. This gives firms the transparency they need to meet regulatory obligations while ensuring good governance.

"AutoRek has all the functionality our business needs in a reconciliation tool. It automates the process from end-to-end, and the flexibility of the auto-match rules has allowed us to tailor the solution to our data requirements. Since implementing AutoRek, our team has reduced the time spent on reconciliations by 90%." - Bethany Cox - Lead Reconciliations Controller at Tide

Reconciliation automation

AutoRek automates and optimises the tasks reconciliation teams perform such as preparing, reviewing and analysing data from various sources. The platform applies repeatable logic regardless of the data source, type, quality or volume.

Bank & Treasury reconciliations
Regulatory & Intersystem reconciliations
Cash/payment allocation
Accounting reconciliations
Trade and asset reconciliations

Oversight and control

Our solutions provide end-to-end control. They enable firms to segregate tasks and gain oversight of core processes and data. Users review and approve through integrated workflow and case creation logic. The platform retains a full history of the actions they take.

Break allocation, escalation and approval
Reconciliation review and sign-off
Management Information (MI) and report generation
Financial close processes
Improved auditability

Regulatory reporting

AutoRek’s automated reporting suite simplifies regulatory processes. It surfaces all data held within the platform, providing real-time management information (MI) on interactive dashboards. After the platform takes in data, it automates all data-related processes that feed into downstream reporting.

Data enrichment and preparation
Full report configuration
Report generation
Integrated review and approval
Export reports in multiple formats
Export scheduler

Visit our website to book your tailored AutoRek demonstration!

Product features

Data ingestion

AutoRek can consume data from any source and in any format
Transfers data in real-time from APIs
Automatically identifies source data formats
Supports OCR for paper sources
Integrates with internal systems

Data management

Aggregated and disaggregated transaction views
Merges third data source with raw data files like currency tables
Uses one data source for many reconciliations without re-importing
Provides reporting labels and features
Keeps full audit trail of original and transformed files

Intelligent matching

Recognises and suggests best results with intelligent match analysers
Allows user to configure match rules
Supports one-to-one, one-to-many and many-to-many match sequencing
Supports timing and age-sensitive match rules

Exception management

Integrates workflow to assign, route and track exceptions
Automatically escalates breaks that exceed due dates or materiality levels
Provides consolidated view of all outstanding breaks, user work queues and bottlenecks

Attestation

Has centralised sign-off and attestation hub with full audit trails
Assigns ownership of accounts, transaction types and other criteria
Gives clear visibility of ownership across legal entities, business units and locations

Auto-journalling and reconciliation accounting

Integrates sub-ledger with transactions & easily exportable to ERP/general ledger
Automatically creates journals for rounding differences, tolerance write-offs, currency differences and sales taxes
Supports multi-period, multi-currency and multi-company sub-ledger posting controls
Gives journal entries with audit trails tied to the reconciliation

Reporting, dashboarding and auditing

Maintains full data lineage throughout the entire process
Provides a unified database for reporting
Provides online dashboards with drill-down and drill-around functions
Generates automatic or scheduled report

https://www.wetransact.io/

AutoRek SaaS (North America)

by API Software Inc (AutoRek USA)