AutoRek, the Glasgow-based reconciliation and financial data management platform, has partnered with Capgemini, the consulting and digital transformation firm, to ensure it remains ahead of reporting requirements for clients as well as complying with regulatory changes.
AutoRek is aiming to strengthen its finance operations team and controls for big players across asset management, payments, banking and insurance sectors. By working with Capgemini, AutoRek’s clients will be guided by day-to-day support of implementations. Furthermore, Capgemini will enrich its portfolio with a new go-to-market proposition alongside AutoRek. This will address the increasing market need for real-time cash management and transaction reconciliation.
Alastair MacKenzie, head of strategic partnerships at AutoRek comments: “AutoRek is on a mission to set the benchmark in trust for finance operations and controls. At the heart of our partnership with Capgemini is a shared vision for modern finance data platforms. Together, we will deliver a step change in efficiency and accuracy.
“This exciting new collaboration will enable us to provide our clients with complementary consulting and advisory services. It will also quickly expand our international presence. We are delighted to be working closely with like-minded experts, dedicated to the needs of financial services.”
Jeroen Hölscher, global head of payment services at Capgemini said: “Companies are under immense pressure to free up cash from their operations. Banks and insurers across the world trust AutoRek’s innovative reconciliation solution. They are efficiently optimising their working capital with confidence. We are proud to be supporting AutoRek to build upon its success and extend its growth internationally.”
Streamlined and efficient reconciliation process
A report by Capgemini indicates half of payment executives handle their cash reconciliation process manually. A common approach sees large volumes of data analysed through spreadsheets taking significant effort and time, and being prone to error. In turn, this can potentially cause payment delays and supplier record discrepancies.
Without consistent and reliable data tracking of spend, teams can encounter obstacles that impede efficient cash flow management and identification of areas for improvement. This can create roadblocks that ultimately lead to poor payment reconciliation. The intelligent automation of money movement and liquidity reconciliation can revolutionise the process. It gives enterprises the transparency they need with real-time cash forecasting.
Consequently, this increases the value of their working capital and drives their competitiveness in the marketplace.
