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Privacy Policy

ReconArt, Inc.

SITE PRIVACY POLICY

This Privacy Policy governs the manner in which ReconArt, Inc. (“ReconArt”) collects, uses, maintains and discloses information collected from users (each, a “User”) of the ReconArt.com website (“Site”). This privacy policy applies to the Site and all products and services offered by ReconArt.

Personal identification information

We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, register on the site, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may be asked for, as appropriate, name, email address. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities.

Non-personal identification information

We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet Service Providers utilized and other similar information.

Web browser cookies

Our Site may use “cookies” to enhance User experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

How we use collected information

ReconArt may collect and use Users personal information for the following purposes:

  • To improve customer service:  Information you provide helps us respond to your customer service requests and support needs more efficiently.
  • To personalize user experience:  We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.
  • To improve our Site:  We may use feedback you provide to improve our products and services.
  • To send periodic emails:  We may use the email address to respond to their inquiries, questions, and/or other requests.

 

How we protect your information
We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.
Sensitive and private data exchange between the Site and its Users happens over a SSL secured communication channel and is encrypted and protected with digital signatures.

Sharing your personal information

We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.

Changes to this privacy policy

ReconArt has the discretion to update this privacy policy at any time. When we do, we will revise the updated date at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

Your acceptance of these terms

By using this Site, you signify your acceptance of this policy. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

Contacting us

If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us at: ReconArt – info[at]reconart[dot]com

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ReconArt 
Blog
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Dec / 9 / 2021

The Changing Landscape of the CFO

The emergence of the Shared Service Centre (SSC), sometimes also referred to as the Shared Services Operation or Organisation (SSO), is certainly no new phenomenon. Since the mid-noughties, the cost and efficiency opportunities to be had through centralisation have been well understood by CFOs. They have become part of the organisational landscape of typically large, multi-national businesses, which have sought to:

  1. Increase efficiency & reduce costs – through economies of scale, reduced infrastructure costs and tax reductions derived from the SSC location.
  2. Gain better process management & control – by the implementation of standard processes across the business with its implications for greater management control and service delivery.
  3. Implement better technology – replacing geographically disparate legacy systems with a single installation of the latest technology to provide greater efficiencies and customer service.
  4. Improve levels of service – centralisation provides the potential to deliver operational best practice, both within the business (e.g. through a better trained and capable professional services team) and to customers, as well as taking advantage of the virtues of continuous improvement.

These are fairly generic benefits and for some, amount to the equivalent of a job description. A CFO appointed to head an SSC might once have seen it as a dumbed down, back office task management based role, offering little opportunity to improve their visibility, or engage more strategically, at the right level and within the larger business.Shared Service Word Cloud

However, as these centralised business models mature, the personal opportunities for SSC-based CFOs to join their organisation’s ‘top table’ has become a more realistic one – if they get it right. For the more enlightened executive, implementing better reporting to drive performance and deploying technologies that permit operational malleability have been fundamental in their ability to react rapidly to changes in today’s volatile and highly competitive markets; key strategies.

One of the more specific implications in this evolution is the incorporation of technologies into SSC operations that had been considered peripheral until recently but which have now certainly become mainstream.

These have included solutions centered on a combination of compliance, control and business efficiencies such as balance sheet reconciliation and transaction matching technologies. In the crucial process of selecting the correct platform, their organisations have benefitted from a current and accurate view of business performance and the reducing of compliance risk.

A CFO with personal ambition and insight can counter the potential of a disaster, such as the current crisis facing the implicated executives at Tesco plc, for example. The growth in the market for these solutions is evident and there is no sign that it is abating.

The CFO acting as a champion of change needs to focus on a wide range of activities to enhance, as well as protect, business operations. The old adage that “you cover the downside and the upside takes care of itself” is a prudent yet positive observation. It is one which will serve them well in their personal career ambitions and goals.

For the CFO with the right skillset and attitude, opportunities and challenges abound. However, foresight and insight are mandatory as pitfalls and the metaphorical ‘banana skins’ are prevalent.

Tom Burke is a Senior Sales Executive within ReconArt’s UK operation. With over 25 years’ experience of enterprise-class software solution sales, he brings extensive knowledge to the table of how automation using proven software can bring significant benefits to any organization. Tom can be contacted at tom.burke@reconart.com or +44 (0)20 3239 8160.

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Case Study

Rain City Capital

Rain City Capital

Industry: Lending
Focus: Bank Recs, Time Savings

Rain City Capital was able to exponentially speed up their reconciliation process and eliminate the opportunity for error by leveraging ReconArt’s powerful automation features.

read more

ReconArt Customers

Here are some of the customers who leverage our reconciliation software to automate their reconciliation and close processes.

Soyven
Gathern
Navan
Klar
Daikin
Expedia
Umpqua bank
Calgary co op B&W
deVolksbank
Nedbank
Asos
Fiat Chrysler
Ferratum
Quikrete
New York City Department of Finance
Worldremit
Bill
Catalyst
Xendit
Agency Insurance Company
MidFlorida Credit Union
Sparkasse Bank Malta

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