Record-to-Report

Proven Record-to-Report Solutions for a Compliant and Agile Finance Function

As CFOs strive to achieve faster reporting, reduced costs and increased focus on data analysis, streamlining the Record-to-Report (R2R) function is emerging as a critical pre-requisite. Real-time, accurate financial and management reports enhance visibility into the R2R cycle and associated processes to enhance risk management, improve reporting and compliance, and provide tighter security.

WNS’ Record- to-Report (R2R) solution combines process, technology and analytics into a web-based accounts reconciliation tool to enable effective bank, inter-unit and General Ledger (GL) reconciliations. It mitigates operational risks by moving the reconciliation process from spreadsheets to a centralized, scalable system. The solution automates activities such as month-end management, reporting and journal entry workflows. The suite includes a proprietary component (for standard, low to medium volume reconciliations) and a partner-driven solution (powered by Trintech) to automate complex and high-volume transactional reconciliations for banks and large organizations.

Key Features

• A flexible and scalable solution (reconciliation and period-end closing) that caters to fluctuating volumes and drives shorter period-end cycles
• A modular offering that includes an end-to-end integrated version for large-scale organizations and lite, low-cost versions for small-scale businesses
• Improves standardization and consistency across processes through structured incident case management, workflow and audit trail capabilities
• Ensures complete privacy and data security through role-based access management and intelligent data partitioning
• Enables real-time visibility, accurate trend analysis and forecasting through status dashboards and the reporting widget functionality

Key Benefits

  Australia’s leading airline implements WNS’ R2R solution to standardize month-end activities and improve process efficiencies

Scope of Engagement

• Standardize and automate the end-to-end process for creation and submission of reconciliation files including GL processing, preparation of summary sheets and creation/posting of journal entries
• Develop auto-scheduling and task allocation, control-based tracking and audit trail functionalities to improve transparency, avoid risk of slippage and replication of activities and boost productivity
• Build tailored management reports for key business SLAs

Business Benefits

• Reduced cycle time for month-end closure and reconciliations and improved overall process efficiency through on-demand resource management
• Improved process accuracy due to minimum human intervention
• Enabled effective measurement and reporting of SLAs for improvement
• Significantly reduced mail management overheads and network traffic through ad-hoc request management