Unit Price Reconciliations

Overview

Overview

Do you spend hours each morning trying to reconcile unit prices from your custodian against other sources like Bloomberg and your general ledger? Use SolveXia to perform your reconciliation in minutes and in a way that ensures knowledge is retained and shared through the organisation.

End-to-end automation
Fund level checking of NAV, units and price
Summary of reconciliation results
Email confirmation of results

Features

Features

Data collection and format
  • Input data in any delimited format (csv, text), Excel or Access database
  • Users can upload files directly into the process.Alternatively files can be collected via secure FTP or via direct connections to source systems (configured as needed)
  • Variables, such as tolerances for variances can be easily captured via input forms
Input data validation
  • Confirmation that source data is in the correct format (column structure and data types)
  • Profiling of source data for errors and critical changes (e.g.new fund codes, invalid dates etc.)
Processing of reconciliation
  • Extract unique list of fund codes from each source (e.g. Custodian, GL etc.)
  • Perform any mapping of fund code names
  • Calculate NAV, units and Price across each source for each fund code
  • Compare variances to any tolerances supplied by the user
  • Extract fund codes having a variance
  • Produce a summary dashboard of the reconciliation results
Distribution of results
  • Outputs can be downloaded or accessed by users (from SolveXia) or can be sent via email or FTP
  • Option to integrate with other systems/data warehouses
  • Ability to send email confirmation and capture responses
Exception reporting and audit trails
  • Exception reports, sent as alerts to designated users capturing issues identified by the reconciliation
  • Ability to generate specification document that outlines the end-to-end reconciliation process
  • Full audit history and version control of all data loaded into the solution
  • Change history, showing any changes made to the process, including timestamp and user.

Getting Started

Seen enough? Want to know how to get started with Unit Price Reconciliations using SolveXia?

The typical journey taken by many of our current customers using this solution involves:

  1. An initial meeting to understand your specific needs (contact us to get started)
  2. A small, yet meaningful proof of concept exercise (usually focusing on a specific treaty or benefit type)
  3. Business, Legal, IT and Procurement sign-off for licensing of SolveXia and any implementation
  4. Initial analysis and design. This will most likely require stepping through your existing process (such as reviewing Excel spreadsheets, Access databases, scripts and procedure documents) and talking to relevant stakeholders to design a solution that meets their needs
  5. Implementation of your solution.
  6. Training of your staff to either build solutions in SolveXia or on how to run the unit price reconciliation solution once implemented (depending on the path taken for the item above)
  7. Review, audit and parallel running of your solution.
  8. Ongoing support and maintenance.

Note, Step 4 onwards can be performed by SolveXia analysts as well as your internal resources (with training) or a third party (i.e. one of our consulting partners).

Why use SolveXia for Unit Price Reconciliations?

Siginficant time savings

Get your reconciliations finished sooner so that variances and errors can be acted on quickly minimising any downstream costs to the business

End-to-end automation

Collect and validate data (in any format), collate funds, reconcile values and securely distribute results.

Audit trails and documentation

Changes to reconciliation rules and data are recorded and can be reported on. Live/up-to-date documentation can be generated at any time which describes the end-to-end process (e.g. to an auditor).

Enforce data quality & rules

Enforce checks such as identifying new fund codes or significant movements in NAV or units etc.

Save time. Improve data quality. Empower your decision making.