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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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Jul / 9 / 2024

The Corporate Reconciliation Landscape

Why it makes sense to deploy new technology now

Now has never been a better time to review how technology can assist in the multitude of reconciliation practices that necessarily exist across multiple business lines and functions.  Many of us have recently closed the 2011 books, and gone through first internal, then external audit.  This annual event often reinforces something we inherently know, but all too often fail to act upon as it never seems a priority – streamlining reconciliation processes and practices.  Remember that proverb that our parents would teach us all those years ago “A stitch in time saves nine”?

Reconciliation is one of those annoying things that we all have to do with varying degrees of frequency depending upon the level of risk.  It can range from daily bank reconciliation to periodic balance sheet account review.  Let’s consider the former – bank reconciliation– first.  We all inherently know how much easier this task becomes if tackled daily, rather than weekly or monthly.  But it still often requires manual effort: downloading the bank statement, getting an extract from the general ledger, maintaining a spreadsheet, following up on exceptions.  Wouldn’t it make life easier if all of these could be housed in one place with a greater degree of automation and control?  And wouldn’t the same be true for all those other accounts such as payroll, AP, AR and a whole host of other sub-ledgers?

Of course, for many of us, there are also those period end reviews of significant balance sheet accounts to ensure that there are no anomalies exist and, that where some are found, they are dealt with promptly.  Similarly, having all balance sheet attestation and account certification activities– whether required by legislation such as Sarbanes-Oxley for public companies, or whether practiced for good financial governance– in one place only serves to make life easier down the road.

Just sit back and think of the myriad of reconciliation activities taking place every month within your business: data matching and comparison, following up on exceptions, management reviews and reporting.  Then try to figure out what this is costing annually, and remember to factor in audit and IT costs.  It can add up to a tidy sum, quite a number a full time equivalent staff who could be better employed on other revenue generating or higher value tasks.

So what?  Well, if you could sweep up all these activities into one place – one solution – you would start to see a multitude of benefits.  Firstly, you would reduce operational costs – not a bad thing as the economy starts to pull out of recession and freed funds can be diverted to growth.  Secondly, you would be able to highlight earlier and more easily risk situations– both financial and reputational – basically catching things that go wrong or catching them earlier.  Thirdly, you get to keep the auditors happy, as you can easily prove compliance with both good financial governance practice and legislative and regulatory requirements.  So, is now the time to act to make next year’s close more cost effective and easier?  Probably.  What better time than to take a look at how an automated reconciliation solution can deliver a triple win.

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Case Study

Think Money Group

Think Money Group

Industry: Finance
Focus: Client Asset Recs, FCA Compliance

Think Money Group is an innovative financial services business based in Trafford Park in Manchester, England.

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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ReconArt Americas
4720-E Langston Blvd,
Arlington, VA 22207
United States
1-855-RECONART (Toll Free)
ReconArt Worldwide
+1 571-210-2444 info@reconart.com
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