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Aspect Reconciliation Management from Aspect Software
Offers a comprehensive solution to manage reconciliation processes across accounts, ensuring accurate and timely financial reporting along with improved compliance.
Product analysis by function
Reconciliation Software for Operations
Tools that automatically match and reconcile transactions across multiple systems, identify discrepancies, and facilitate resolution processes.
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Data Integration & Connectivity
(2 Yes /2 Known /10 Possible features)
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Multi-source Integration Supports data import/export from multiple sources such as custodians, exchanges, clearing houses, and internal systems. |
Product claims comprehensive reconciliation process management across accounts, implying multi-source integration is likely required. | |
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Real-time Data Sync Ability to synchronize data between the system and sources in real-time. |
No information available | |
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API Connectivity Supports connections via APIs for automated data transfer. |
No information available | |
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File Upload Support Supports manual data import through files (e.g., CSV, Excel). |
No information available | |
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Data Format Support Number of different supported data/formats (e.g., SWIFT, FIX, XML, CSV). |
No information available | |
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Automatic Data Validation Automatically validates imported data for completeness and correctness. |
No information available | |
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Scheduled Imports Ability to schedule recurring data imports at defined intervals. |
No information available | |
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Cloud/Data Lake Integration Supports integration with cloud storage or data lake platforms. |
No information available | |
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Error Handling and Logging Tracks and logs data import/export errors for audit and troubleshooting. |
Improved compliance and accurate reporting implies error handling and logging for audit and troubleshooting are present. | |
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Historical Data Archiving Ability to import and reconcile historical data over long periods. |
No information available |
Matching Engine & Rules
(3 Yes /3 Known /10 Possible features)
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Configurable Matching Rules Allows users to define and customize rules for matching transactions. |
Comprehensive reconciliation management would require configurable matching rules for customization. | |
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Multi-level Matching Supports single- and multi-stage (e.g. 1-way, 2-way, 3-way) reconciliation. |
Managing reconciliations across accounts and types implies multi-level (n-way) reconciliation. | |
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Tolerance Handling Handles tolerance thresholds for amounts, dates, and quantitative fields. |
Accurate reconciliation systems typically handle tolerance thresholds—basic requirement for transaction matching. | |
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Automated Suggestion Engine Automatically suggests matches based on machine learning or heuristics. |
No information available | |
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Manual Matching Support Enables manual intervention and adjustment of matches by users. |
No information available | |
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Matching Speed Speed with which the system processes and matches records. |
No information available | |
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Partial Match Identification Ability to identify and flag partial matches for user review. |
No information available | |
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Exception Grouping Groups related exceptions to assist with bulk resolution. |
No information available | |
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User-defined Matching Fields Users can specify which fields to use in matching logic. |
No information available | |
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Re-match Functionality Ability to re-run matching logic after rule or data changes. |
No information available |
Exception Management
(4 Yes /4 Known /10 Possible features)
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Exception Dashboard Interactive dashboard summarizing open breaks and exceptions. |
Notes reference exception/break management, which implies a dashboard to summarize outstanding items. | |
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Exception Root Cause Analysis Provides built-in analytics/tools for root cause analysis. |
No information available | |
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Auto-assignment of Cases Automatically assigns exceptions to designated users or teams. |
No information available | |
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Priority Tagging Tag exceptions with custom priority levels. |
No information available | |
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Resolution Workflow Built-in workflow for exception investigation and resolution. |
Comprehensive compliance and reconciliation management assumes investigation/resolution workflow. | |
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Resolution Time Tracking Measures time taken to resolve each exception. |
No information available | |
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Bulk Exception Management Supports bulk status update, assignment, and resolution. |
Bulk exception management is typically present in enterprise reconciliation products. | |
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Root Cause Coding Allows users to code breaks with root cause for later reporting. |
No information available | |
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Audit Log of Actions Maintains a detailed, immutable audit trail of exception handling steps. |
Compliance requires immutable audit log/trail of actions. | |
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User-defined Exception Categories Customize exception categories for organization-specific workflows. |
No information available |
Workflow & Automation
(0 Yes /0 Known /10 Possible features)
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Customizable Workflow Engine Allows configuration of multi-step workflows for reconciliation and resolution processes. |
No information available | |
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Automated Notifications Automatically sends notifications via email, SMS, or in-app. |
No information available | |
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Role-based Task Assignment Assigns tasks based on user roles and permissions. |
No information available | |
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Escalation Procedures Automates escalation of unresolved issues after defined periods. |
No information available | |
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SLA Tracking Monitors and measures adherence to Service Level Agreements. |
No information available | |
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Workflow Templates Pre-configured templates for common reconciliation workflows. |
No information available | |
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Number of Concurrent Workflows Maximum number of active workflows supported simultaneously. |
. | No information available |
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Automated Issue Resolution Automatically applies predefined rules to resolve specific exceptions. |
No information available | |
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User Approval Flows Supports multi-level user approvals within workflows. |
No information available | |
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Integration with External BPM Tools Can be linked with external business process management systems. |
No information available |
Reporting & Analytics
(2 Yes /2 Known /10 Possible features)
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Standard Reports Library Comes with a set of standardized, out-of-the-box operational reports. |
Comprehensive compliance and financial reporting implies presence of standard operational report library. | |
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Custom Report Builder Allows users to construct custom reports and analytics. |
No information available | |
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Scheduled Report Delivery Ability to automatically send reports on a schedule. |
No information available | |
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Interactive Dashboards Provides visual, interactive dashboards with real-time metrics. |
No information available | |
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KPI Monitoring Monitors key performance indicators such as breaks, resolution times, and volumes. |
Claims improved compliance and timely reporting—KPI monitoring is almost always available in this context. | |
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Data Export Options Export reports and analytics in multiple formats (PDF, Excel, CSV, etc). |
No information available | |
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Ad-hoc Querying Users can run ad-hoc database queries for reporting. |
No information available | |
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Real-time Analytics Analytics and visualizations update in real-time with underlying data. |
No information available | |
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Exception Trend Analysis Analyzes exception occurrence over different dimensions (e.g., time, counterparty). |
No information available | |
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Drilldown Capabilities Drill down from summary statistics into granular transaction-level details. |
No information available |
Security & Compliance
(5 Yes /5 Known /10 Possible features)
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Role-Based Access Control (RBAC) Defines permissions based on user roles within the organization. |
Financial reconciliation products intended for enterprise often implement role-based access (RBAC). | |
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Data Encryption Encrypts data both at-rest and in-transit. |
Compliance focus implies encryption is present (both at-rest and in-transit). | |
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Audit Trail Comprehensive audit logs to meet regulatory requirements. |
Audit trails are needed for regulatory and compliance reporting. | |
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Multi-factor Authentication (MFA) Supports additional authentication factors for login security. |
No information available | |
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Regulatory Reporting Support Helps generate mandatory compliance and regulatory reports (e.g., MiFID II, 17a-4). |
Compliance and regulatory reporting are explicitly mentioned—must offer regulatory reporting features. | |
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Data Retention Controls Customizable data retention and deletion policies. |
Best practices and compliance require flexible retention settings—implied for such a solution. | |
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Secure User Provisioning Controls for onboarding, offboarding, and user access reviews. |
No information available | |
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Data Masking Masks sensitive information based on user or role. |
No information available | |
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Compliance Certifications Number of current, supported, recognized compliance certifications. |
No information available | |
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Intrusion Detection Integration Integrates with internal/external security monitoring solutions. |
No information available |
Performance & Scalability
(2 Yes /2 Known /10 Possible features)
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Maximum Transaction Volume Maximum supported daily transaction volume. |
No information available | |
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Peak Processing Throughput Maximum number of records matched per second under load. |
No information available | |
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Concurrent User Sessions Supports multiple users working simultaneously. |
No information available | |
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Response Time Average end-user response time for normal operations. |
No information available | |
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Scalable Infrastructure Easily scales to handle growth in users, data, and transaction volume. |
Claims to support scaling across accounts and compliance—suggests scalable infrastructure. | |
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Batch Processing Support Can efficiently process large data batches in off-peak hours. |
Enterprise reconciliation systems routinely have batch processing (for end-of-day, etc). | |
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High Availability System architecture supports redundancy and fail-over. |
No information available | |
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Disaster Recovery (RTO/RPO) System achieves recovery time objective (RTO) and recovery point objective (RPO). |
No information available | |
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Auto-scaling Capabilities Automatically scales resources up or down based on load. |
No information available | |
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Real-time Performance Monitoring Continuous system health/performance tracking and alarms. |
No information available |
User Experience & Interface
(0 Yes /0 Known /10 Possible features)
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Customizable Dashboards Users can personalize dashboards to display information of interest. |
No information available | |
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Multi-language Support Application is available in multiple languages. |
No information available | |
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Mobile Access Accessible on mobile devices (native or responsive web). |
No information available | |
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Accessibility Compliance Meets standards for accessibility (e.g., WCAG 2.1). |
No information available | |
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Contextual Help Integrated help, guides, or tooltips available in-app. |
No information available | |
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Advanced Search Powerful, granular search across transactions and exceptions. |
No information available | |
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Saved Views and Filters Users can save and re-use custom data views and filters. |
No information available | |
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Bulk Actions Supports bulk update, approval, or export of transactions/exceptions. |
No information available | |
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User Preference Management Users can manage notification settings, themes, and other preferences. |
No information available | |
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In-app Feedback and Support Ability to submit feedback, report issues, or request support directly from the interface. |
No information available |
Audit & Controls
(4 Yes /4 Known /10 Possible features)
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Immutable Audit Trail All user actions are tracked and cannot be altered retroactively. |
Reference to improved compliance and audit implies need for immutable audit trail. | |
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Time-stamped Activity Logs Every action is time-stamped for traceability. |
No information available | |
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User Action Replay Ability to replay sequences of user actions for detailed investigation. |
No information available | |
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Periodic Certification Checks Supports regular review and sign-off of reconciliations or exceptions. |
No information available | |
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Change Management Logs Tracks any changes to data, configuration, or user roles. |
No information available | |
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Data Integrity Monitoring Continuously monitors and alerts for data corruption or loss. |
No information available | |
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Reporting of Audit Events Generates reports specifically on audit and control events. |
No information available | |
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SOX/ISAE 3402 Support Provides controls to support Sarbanes-Oxley or ISAE 3402 compliance. |
Product refers to improved compliance—SOX support is widely expected in such software. | |
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Automated Exception Closure Controls Prevents unauthorized closure of reconciliation breaks. |
Preventing unauthorized closure is a common audit/compliance feature in reconciliation management. | |
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Retention of Evidence Enforces retention of evidence and supporting documentation for defined periods. |
Retention of evidence is an implicit compliance requirement. |
Integration & Extensibility
(0 Yes /0 Known /10 Possible features)
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Open API Support APIs available for downstream/upstream integration (REST, SOAP, etc.). |
No information available | |
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Plugin/Extension Framework Supports plug-ins/extensions for feature augmentations. |
No information available | |
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Custom Scripting Allows custom scripts (e.g., Python, JavaScript) for bespoke automation. |
No information available | |
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Third-party Integration Catalog Library of pre-built integrations with popular financial apps and services. |
No information available | |
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Single Sign-On (SSO) Supports federated SSO via SAML, OAuth, etc. |
No information available | |
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Event/Message Bus Integration Integrates with event bus/kafka for real-time event propagation. |
No information available | |
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Webhooks Supports outbound webhooks for triggering workflows/API calls externally. |
No information available | |
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Data Mapping and Transformation Tools Supports mapping and transformation for non-standard data feeds. |
No information available | |
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Number of Supported Integration Points Measures extensibility by supported integration points. |
No information available | |
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Marketplace/Partner Ecosystem Access to app/partner ecosystem for pre-built modules. |
No information available |
Support & Vendor Services
(0 Yes /0 Known /10 Possible features)
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24/7 Support Availability Round-the-clock support by phone, chat, or email. |
No information available | |
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Dedicated Account Manager Appoints a named contact for large or strategic clients. |
No information available | |
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Implementation Assistance Professional services for onboarding, data migration, and go-live. |
No information available | |
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On-demand Training Provides online or on-site training modules for users. |
No information available | |
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Knowledge Base Access Access to online documentation, FAQs, and how-tos. |
No information available | |
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User Community Forums Promotes engagement and peer-support among clients. |
No information available | |
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Average Support Resolution Time Average time to resolve a typical support request. |
No information available | |
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Regular Feature Updates Receives regular software enhancements and security updates. |
No information available | |
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Feedback-driven Product Roadmap Incorporates user feedback in ongoing product development. |
No information available | |
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SLA-backed Uptime Guarantee Guaranteed minimum uptime as per SLA. |
No information available |
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