Sell-Side Technology Awards 2014: Best Sell-Side Reconciliation Platform — SmartStream

Martin points to SmartStream’s ability to combine data across multiple asset classes as a testament to its prowess. In today’s new market, one advantage of this capability is that it allows users to see a “proof” of their total equity for over-the-counter (OTC) reconciliations. SmartStream’s TLM Reconciliations Premium offering delivers reconciliation and exception-management functionality for clients, matching and reconciling trades of any type. Users can manage the complete lifecycle of a trade through to its resolution. It provides the scalability to handle large volumes and can be deployed as a software-as-a-service (SaaS) offering or installed onsite.

“A recent focus for SmartStream has been around onboarding tasks,” Martin explains. “We deliver our messaging interface as a standard component for transforming and loading data into TLM Reconciliations Premium. This component is common to all TLM solutions, with data being loaded once and consumed across multiple business solutions.”

Perhaps the most advanced of its recent upgrades is the launch of TLM SmartRecs, introduced during 2013. The platform, which is coupled with TLM Reconciliations, integrates and automates data mapping, matching, documentation, and delivery into the TLM enterprise reconciliations system. This helps to lessen firms’ dependencies on bespoke, in-house tools, spreadsheets, and legacy software platforms.

“We introduced a new module called TLM SmartRecs, which is the first enterprise model that integrates and automates data mapping, matching, documentation and delivery into one prototyping product for rapid delivery,” Martin says. “TLM SmartRecs extends the onboarding capabilities, enabling business users to configure reconciliations in a matter of hours rather than weeks.”

SmartStream will tweak the platform during the course of this year and into early 2015. “Reconciliations are currently managed through the full lifecycle so users readily understand the current state of any reconciliation,” Martin says. “This will be extended to provide a task-orientated desktop that will proactively take all users across multiple roles directly to the tasks that require action. These improved efficiencies are assisting our clients to deliver improved service-level agreements (SLAs).”

“A recent focus for SmartStream has been around onboarding tasks. We deliver our messaging interface as a standard component for transforming and loading data into TLM Reconciliations Premium. This component is common to all TLM solutions, with data being loaded once and consumed across multiple business solutions.” —Tim Martin, SmartStream