A Quick Guide on QuickReco Tool and Its Working Model
QuickReco tool is one of the most advanced automation tools built to add exceptional automation for reconciliation and many other operations. From banking to insurance, NBFC (Non Banking Financial Companies), and many other industry verticals can use this reconciliation tool.
What makes the QuickReco tool stand out among many other excel automation tools?
· It is not just an excel automation tool, it is way more than that.
· This tool has many amazing features and a mechanism to process calculations way more securely and efficiently. Even if the calculations are quite tough to process by any other excel automation tool.
· Unlike many other data reconciliation tools or bank reconciliation software, it has some intelligent and astounding features that automate manual excel operations.
· It simplifies calculations regardless of the fact how complicated the calculation formula or algorithm is.
· Moreover, accurate reconciliation of records is its USP, which is why the QuickReco tool is renowned as one of the best excel automation tools.
· The QuickReco tool is one of the preferred reconciliation tools as it can perform various options with predefined algorithms in a jiffy.
· It enhances the operations by automating various jobs. It means the banks, non banking finance companies, insurance agencies, or any other organization using the QuickReco tool do not need to put manual resources to make day to day calculation and generate reports or assure reconciliation.
· All of these jobs and many more can be handled by this single data reconciliation tool.
How does the QuickReco tool work?
Let us share the working model of the QuickReco tool, so you can get an idea of how does this outstanding excel automation tool work. The explanation of the working model of this tool will also give a glance at the major advantages this software offers to the banks and NBFC.
So without further ado, let us briefly explain the functional flow of the QuickReco tool in a stepwise manner:
1. All files or data to be processed will be tracked by the software automatically
· Based on the predefined interval, the QuickReco tool tracks the files of data that need to be processed.
· The processing interval can be defined by the admin, which can be daily, every alternate day, weekly, biweekly, or even monthly.
· This excel automation tool will follow the predefined processing intervals to process the predefined calculations.
2. File import from system to this data reconciliation software
· Once the files to be processed with predefined logics are detected, this QuickReco tool will import those files into the software from its source.
· The user can also manually upload data for the calculation and reporting process.
3. Validation of the imported data and records
· As we all know, each software solution can process data if the data is stored in the correct format in the file.
· The QuickReco tool also requires the files to be processed in the right format.
· To assure this fact and efficacious reconciliation of data, the QuickReco tool will validate the imported data and records before actually processing them. This makes it is one of the best data reconciliation tools.
4. Computation on imported data
· Once this reconciliation software validates the rightness of the data, the next step is the computation of the data based on the configured calculation algorithms and functions.
· This excel automation tool can securely process data, unlike macro and store it in the database to keep the processed data in a well-defined format and securely stored.
· The calculation is processed automatically, so it can process a large volume of data quickly.
5. Data reconciliation
· After the processing, this one of the top data reconciliation tools will use predefined keys for data reconciliation.
· It makes sure that the processed data is accurate and presented efficiently.
6. Report production and export
· This tool not only computes the required calculations, but also represents the output in an easy to understand format of reports.
· It can generate periodic reports to provide the required reports automatically.
7. Send reports automatically
· Whether the reports need to go for approval or they need to go for periodic review, this banking and NBFC reconciliation software can do both.
· It can automatically send the reports to predefined people with the auto email functionality.
8. Summary dashboard display
· The processed data can also further be computed to extract the summary.
· This one of the popular data reconciliation tools shows the crux of computed data, as a summary on the dashboard.
· A quick look at the dashboard summary can make the overview process faster.
This reconciliation software is built to empower banks and NBFCs.
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