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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 
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Oct / 20 / 2021

It’s not too late to automate

It’s been a great and beautiful year so far here at ReconArt. This has even been true of the weather. As a native Englishman I naturally think and speak often (often meaning daily) about the weather. So I have felt blessed to be able to walk the two miles each morning in just shirtsleeves to our corporate office just outside of Washington DC. That was until this week. For the first time in months, I had to put on a coat this week, and then it suddenly dawned on me “Wow, it’s the middle of November. I’m in the Northern Hemisphere right now. It’s almost winter. Actually, it’s almost the end of the year.”

Now, year end can be an interesting time for so many of us whose financial year coincides with the calendar year. The joys and celebrations of the Holiday season cruelly mask what’s coming next. Closing the month of December, the quarter, the year, the books, internal audits, external audits, financial reporting, etc.

And then the question pops up: “Wouldn’t it be great if we could introduce technology to ease and speed that whole process?” Of course, I know that many of us will be asking that question in the first quarter of next year. But wouldn’t it make life easier if we already had a system in place? Wouldn’t it ease discussions with our auditing partners if they could see that risks in 2016 will be lower than in 2015 and compliance will be greater? The answer, naturally, is ‘Yes’.

Speedy ImplementationStill today, from organization to organization, people are reconciling their accounts manually. By manually I mean printing reports and downloading statements, entering data into spreadsheets, emailing queries and documents that need review and approval, then creating checklists to ensure everything is approved on time. After that, when the auditors start their work, they are hunting for collateral and answers. When the dust settles, they are often being asked to put more (manual) controls in place to ensure adherence to sound business practices and financial compliance with regulations and ever-evolving legislation.

Surely, we are all guilty of putting things off. We instinctively know that certain tasks will be a headache at an already busy time in the future, so we tell ourselves that we will deal with them later. But why? Oh yes, time. There’s no time now to take on a new project.

Let me share a few facts with you.

  1. Reconciliation is a pain. Whether it’s the daily matching of transactions or the reconciliation of balance sheet accounts at month end.
  2. We all do it (as in the companies we work for all have to reconcile). It is necessary and unavoidable.
  3. Most of us do it pretty manually – the need is addressed with people and limited tools by brute force.
  4. Most of us have no idea what it’s really costing as the hours spent performing it, following up, dealing with audits, leaning on IT to create reports and metrics, etc. are often covered by salary costs. The true cost is hidden.
  5. Risks associated with under-performing on control activities might not be well-appreciated. What if things aren’t done accurately? What if things aren’t done on time? What if discrepancies aren’t recognized in a timely way and addressed?
  6. Many of us think that automating the process will be a big project that will cost thousands and take months of upheaval – the last thing one should be considering at year end.

The first five are true. The sixth – at least for our clients – is false. Now here are some more facts that you may find surprising:

  • Automating your reconciliation practices can be a rapid process. Read here how fast-growing, online portal Teespring automated its daily reconciliations in just two weeks.
  • Putting in an automated solution for daily and/or month end reconciliations before the end of the year might not solve all the issues of the past (unless, as we often do for new and growing clients, we clear a backlog), but it will sure make discussions with your auditors and compliance officers a whole lot easier. Read here how geographically expanding Premier Group now has much greater confidence in its financial reporting by having automated its reconciliations.
  • You can usefully spend a little time now – before the real pain of the 2015 financial close starts – to make life in 2016 a whole lot easier.
  • You can save money. Read here how Fiesta Insurance saw an almost immediate return on investment and has since enjoyed year-on-year savings to fuel its growth.

So, in summary, if you have just a little time now, or want to save a whole lot of time in 2016, or if you have some 2015 budget still available (but remember, even without budget you will be in the black), remember: it’s not too late to automate. And just in case you forget you still have time now, bookmark this page and set a reminder to pull it up in mid-January when you are right in the thick of things, and try not to think of me saying “I told you so”. While now most likely will be best, it will never be too late to automate.

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Case Study

Audubon Engineering

Audubon Engineering

Industry: Engineering
Focus: Bank and Cash Recs, Efficiency

Today Audubon is comprised of four affiliates, which include Audubon Engineering, Audubon Field Services, Cimation, and Affinity.

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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4720-E Langston Blvd,
Arlington, VA 22207
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