mRec

mRec - Automated Reconciliation Solution


One of the most cumbersome tasks in Finance & Accounting, reconciliation plays a vital role in an organization's financial integrity. An efficient, accurate and timely financial close aids in evaluating true business performance, decision making and external reporting requirements. Hence automation of the reconciliation function is a critical step to achieve these objectives.

Key Solution Features

mRec is a fully integrated solution web based reconciliation tool which automates the reconciliation process using matching rules, best practices and workflow engine . The solution allows for easy auditing, tracking of documentation and complete visibility to your reconciliation activities.

mRec Services

Benefits

  • Reduction in Risk - Reduction in risk to financial organizations- can be measured by avoidance of costs associated with a failure in internal controls
  • Efficiency Gains - Labor savings achieved by making the administration, preparation and review of account reconciliation more efficient
  • Improved Visibility - Centralize the management of account reconciliation, Reduce daily email communications and Provide central repository for auditors

The Mphasis Advantage

  • Best-in-class platform based services with deep domain knowledge
  • Flexible Hosting Options- 100% web developed and deployed. In-house or hosted deployment options available
  • Highly Scalable - Enterprise scalable: start small, grow large
  • Ease of Use - Better, simpler-to-use functionality
  • SOX Complaint - Designed to comply with SOX & equivalent statutory requirements
  • Language Support - Supporting users in their local languages and regional settings
  • Rapid Implementation Model - Shorter implementation time leading to maximize Return on Investment