AutoRek, a leading automated financial controls platform, has joined forces with Calastone, the world’s largest global funds network.
The collaboration between AutoRek and Calastone is designed to streamline and improve the consolidation and reconciliation processes for fund manager data, helping investment firms enhance operational efficiency and reduce costs.
AutoRek provides a state-of-the-art automated platform that assists firms in managing financial controls and data processing with greater accuracy and less manual intervention. This enhances efficiency, particularly in the reconciliation and reporting segments of financial operations.
Calastone utilises its extensive global network to deliver efficient transaction solutions across the investment funds sector. The integration of Calastone Reporting aims to consolidate varied data sources into a cohesive, streamlined format, aiding in faster and more accurate financial reporting.
Through the partnership, Calastone’s Reporting solution will directly integrate statements from fund managers and transfer agents, centralising data into a unified format for easier access and management. AutoRek will complement this by offering a pre-configured solution that automatically imports the reporting outputs from Calastone, facilitating daily reconciliations that were previously done monthly. This strategic integration significantly reduces the time and resources needed for monthly reconciliation cycles.
Both firms have mutual clients who are already reaping benefits from this partnership, seeing improvements in balance sheet liquidity and operational agility.
AutoRek Head of Strategic Partnerships, Alastair MacKenzie, said, “With a long track record as specialists in reconciliation automation, and having extensive experience of automating fund manager reconciliations for clients in the investment industry, we are excited about this partnership as a massive time and cost saving for our clients.”
Calastone’s Head of UK & Europe, Ross Fox, said, “Digitalisation and automation are crucial tools that enable the asset management industry to reduce costs, innovate and operate more efficiently. By consolidating data from multiple sources into a single, standardised structure, Calastone’s technology streamlines the reporting process, enhances operational efficiency, and reduces risk. We are thrilled to partner with AutoRek to deliver these benefits to our clients.”
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