A Matured Recon Tool
December 08, 2021

A Matured Recon Tool

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with SmartStream Transaction Lifecycle Management

SmartStream TLM is the primary reconciliation tool used within our organization. We have Internal accounting systems and the purpose of using TLM is to reconcile the data in the accounting systems with the data we receive from custodians. TLM supports multiple recon types, 2 way, 3 way, and multiway which helps our organization to perform the recon faster and effectively.

Pros

  • Matching Rules are easy to implement
  • Dashboards are user friendly and customizable
  • Supports multiple file formats for easy data ingestion

Cons

  • Data Archival
  • AI and Machine Learning for better match rate
  • Better reporting capabilities
  • Cash and Holdings Recons
  • Multi Way Reconciliations
  • Smart Schema and Messaging Interface
  • Recons completed within SLA's
  • Improved match rates
  • User friendly dashboards
Excel was used as a traditional recon tool using macros for matching. There is no room to scale up the recons using excel. The recons are cumbersome and take a lot of time to complete. There are more chances of manual errors. No UI to create a good user experience. Overall all negatives compared to TLM

Do you think SmartStream Transaction Lifecycle Management delivers good value for the price?

Yes

Are you happy with SmartStream Transaction Lifecycle Management's feature set?

Yes

Did SmartStream Transaction Lifecycle Management live up to sales and marketing promises?

Yes

Did implementation of SmartStream Transaction Lifecycle Management go as expected?

Yes

Would you buy SmartStream Transaction Lifecycle Management again?

Yes

TLM will be well suited for an organization's recon requirements. If the organization is able to afford the software, it will be worth investing the amount. The support for heterogeneous file formats is one of the key features. It can accept swift and flat files. The config screens for ingesting the data are very user-friendly. Overall the time taken for setting up a new recon is very less. TLM can be improved if they bring in some AI/ML algorithms for improved match rates.

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