USE CASE
Cash account
reconciliations
Most commercial activity results in some kind of cash transaction, so investigations, when they happen, often involve a wide range of internal and external stakeholders and loads of manual work to identify true root causes of breaks.
Due to their nature, cash reconciliations require a high level of oversight, and receive significant scrutiny from regulators. Getting it wrong can be costly, with significant fines for responsible parties if controls are not properly implemented and managed.
How Duco adds value
Duco’s powerful matching engine improves match rates out of the box. Our no-code, data agnostic platform means business users can set up reconciliations, complete with automated labelling and workflows with in a matter of days. Without the need for lengthy IT projects.
With Duco, you can ditch upgrade costs, eliminate the proliferation of point solutions, and reduce the time to market for new products.
challenge
The cost of unnecessary manual work
Frequently cash reconciliations require hours of resource-hungry manual work on complex break investigations for simple data errors that should have been picked up.
Save time and ditch manual matching
Starting checks, tolerances and the ability to include additional data elements to your cash process improve accuracy and help to eliminate manual matching.
challenge
Account governance
Accounts don’t always line up. When statements have multiple sub-accounts that need to be reconciled against a single one on the internal ledger, you may end up stuck with multiple repetitive processes.
Eliminate repetitive processes and get control of your accounts
Consolidate various account combinations into one process. No more managing data across multiple views. You can run the same process for multiple accounts, saving time and avoiding duplicate manual work. And everything is automatically documented for complete audibility.
challenge
Cash investigations involve a lot of people
Cash break investigations are broad and complex. They can hit investment teams, trade operations, and finance as well as external counterparties. With this many people involved, investigating false breaks can create chaos.
Reduce false breaks and avoid unnecessary investigations
Use Duco’s Natural Rule Language to set up auto-match rules and exception tolerances to filter out the noise of false breaks. Transactions under the tolerance can automatically be matched – no investigation needed.
challenge
Adapting to change is a challenge
Legacy tech, especially on-prem solutions, can struggle to keep up with changing file formats and new processes. Adapting your processes to new requirements can be challenging and costly, inhibiting business improvement.
Flexible, schema-free model adapts quickly to changing requirements
Duco’s SaaS model eliminates the need for costly upgrades when requirements change. And you can change or create new reconciliations within hours, without large development projects. Rules are easy to update, test and promote through dedicated sandbox/UAT environments.
Thanks to Duco we’ve been able to decommission a complex reconciliation tool and cut our reliance on manual work. The Duco Platform is so user-friendly that our teams can manage data processes without intensive support from IT, giving them more autonomy and freeing up our developers to focus on more important tasks. On top of this, our reconciliations are now more centralised and we’ve significantly increased the transparency of our processes.
Unlock the power of your data with Duco
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