According to a report by Financial Insights, reconciliation vendors are looking to the future. The firm found, "Many of the vendors are ready to take the next step in automating reconciliation by focusing on automating the business processes instead of individual instances of matching and exception identification."
In addition, the report suggests that reconciliation systems will be implemented at the departmental or regional level, rather than at the global level. It can also be expected that financial-services firms will have more than one solution, but "not the dozens of systems that they currently support."
The report was authored by Financial Insights' analysts Damon Kovelsky and Maggie Scarborough.