Financial Settlement

The Challenge

Settling financial transactions within an organization presents a unique set of business challenges – multiple departments, disparate software systems, complex business processes, costly and time-consuming manual processing to handle exceptions. Are you using manual or semi-manual process to get your new and old systems to properly balance and settle your financial transactions? Automating and integrating internal business processes for financial settlement are critically important to improving financial and operational performance.

The Financial Settlement Software Solution

Global 2000 companies use LiveApp Solution for Financial Settlement to address the challenges associated with processing and resolving internal and external financial transactions. The Solution organizes, processes, calculates, reconciles, facilitates cost transfers, and provides files and reports.

LiveApp Solution for Financial Settlement models transactional relationships among internal and external organizations. Settlement processes are automated according to the model, ensuring reliable, consistent, and accurate resolution. The Solution enables automated exception handling. Exceptions are often the most costly and time-consuming tasks in a company’s settlement process. LiveApp Solution for Financial Settlement automatically handles exceptions and automatically reprocesses all transactions affected by the modified or cancelled record. The Solution extends the existing infrastructure by typically serving as a subsidiary ledger to installed financial systems from leading providers such as Oracle, Lawson, and PeopleSoft. In this application, its focus is on:

• Data Analysis. Bring in data from multiple sources, analyze and compile data into usable events.
  
• Transactions. Monitors, tracks and produces timely and accurate transactions, including allocations, accruals, general ledger entries, and journal entries.
  
• Reconciliation. Stores and tracks reconciliation information through a web-based user interface.
  
• Reporting. Provides an operational set of reports and custom reporting capabilities.

Like all LiveApp Solutions, Financial Settlement offers unmatched agility and adaptability to meet your organizations changing business requirements. Eighty percent of the modifications to the solution can be made through an administrative interface by business users rather than IT staff, enhancing its versatility and organizational value.