World-class reconciliation software implemented to increase the speed and efficiency of accounting operations

AutoRek, the leading financial reporting and controls software solution, has announced that its reconciliation and financial controls platform has been selected by Currencies Direct, the global foreign exchange specialists.

By selecting AutoRek, Currencies Direct will benefit from:

• Multi-currency, high volume reconciliation functionality
• Automatic multi-currency cash book functionality
• Ability to automate basic accounting processes such as journal posting and analysis

Taking all this functionality together, Currencies Direct will be able to greatly increase the speed and efficiency of accounting operations. As one of the fastest growing global foreign exchange companies, Currencies Direct needed to upgrade all its financial control platforms to deal with the volume of growth.  Currencies Direct felt that AutoRek’s solution could not only deal with current volumes but could also meet the company’s strategic requirements for an ultra-high volume reconciliations solution.

Currencies Direct chose AutoRek’s self-service implementation model, opting to be trained on how to use the software and thereafter implement it independently.  The initial deployment will see AutoRek train a group of Currencies Direct staff and offer them light-touch support as they go on to build a multi-currency cash book and bank reconciliation solution.  Thereafter Currencies Direct will implement AutoRek to address all their reconciliation challenges. The self-service model will allow Currencies Direct to automate the reconciliation and financial control functions without requiring any further consulting support from AutoRek, illustrating the ease of use of AutoRek’s products.

David Miles, Group Finance Director at Currencies Direct, explains the decision to implement AutoRek’s software: “We chose AutoRek not only because it has great reconciliation products but also because of the flexibility and cost effectiveness of its approach. We are delighted with the product and believe it will allow us to build a global reconciliation and financial control solution.”

Gordon McHarg, Managing Director at AutoRek, comments: “We are delighted to be partnering with a fast growing company like Currencies Direct which is bringing such disruptive innovation to the global financial services market.”