CheckFree Corporation today launched a new service for financial services organizations and corporations, CheckFree Reconciliation and Exception Management Hosted Service.
CheckFree says organizations will benefit from a combination of best practice consultancy to continually optimize their reconciliation processes, together with a hosted service that takes away the day-to-day in-house IT management and maintenance of reconciliation and exception management systems.
“CheckFree’s new Hosted Service will allow our organizations to focus their internal resources on more business critical assignments and move the burdensome process of maintaining an in-house reconciliation and exception management system to a hosted environment. By reducing time-consuming tasks such as updating system parameters and allowing CheckFree to optimize these operations, CheckFree’s Hosted Service can deliver best practices and provide expert support to continuously adapt and operate the system to perform at its peak,” says Mark Cappell, senior vice president and managing director, reconciliation and exception management, CheckFree.
As part of the service, CheckFree’s consultants work with organizations to enhance reconciliation processes to achieve higher match rates, optimize transaction speeds and regularly fine-tune the system to stay aligned with evolving business objectives.
“A rapidly deployed and optimized hosted reconciliation service is a business process that can potentially reduce losses from transaction errors while increasing the efficiency of financial control. CheckFree’s Hosted Service can enable organizations to view reconciliations less as a problematic, cost-intensive resource that demands too much attention, and begin to use it as part of their strategic business plan as a core component of an effective back-office,” Cappell says.