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Balance Sheet Software helps firms control reconcilitations.
July 10, 2009 -
Designed for financial services firms, iSquare(TM) balance sheet substantiation application provides granular audit trail from balance sheet to all accounts, including trades, assets, and liabilities. Program offers visibility by validating balance sheet data through reconciliation process, allowing any transaction to be confirmed. For transparency, software verifies integrity of sub-ledger and ledger balances. Web-based GUI and transaction data warehouse store journal and trade activity history.
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ALaS iSquare(TM) Offers Financial Services Firms Better Control of Balance Sheet Reconciliation
NEW YORK, June 30 /-- ALaS Software has introduced iSquare(TM), a balance sheet substantiation and reporting application designed to increase control, visibility and transparency to provide financial services firms with greater command of the reconciliation process.
"ALaS iSquare is a dramatic improvement over ordinary applications whose focus is limited to cash or manual processes," said Wesley Archer, CEO of ALaS Software. "It provides better control because it affirms the integrity of balance sheet data by substantiating sub-accounts at the transaction level."
ALaS iSquare was designed to effectively manage the reconciliation process in three important ways:
-- It increases control by providing a granular audit trail from the balance sheet to all accounts, including trades, assets and liabilities
-- It enhances visibility by validating balance sheet data through the reconciliation process, allowing any transaction to be confirmed
-- It improves transparency by verifying the integrity of sub-ledger and ledger balances
"The importance of efficient balance sheet reconciliation cannot be understated," said Archer, "the process is notoriously error prone. By implementing ALaS iSquare, companies benefit from increased productivity; more accurate and better controlled general and sub-ledger processes; more timely analysis; easier reporting and auditing; and reduced exposure to write-offs."
ALaS iSquare features a Web-based GUI and a transaction data warehouse that stores journal and trade activity history. Its standard API allows for quick deployment for vendor applications. Trade- and product-level information is displayed on a single screen and iSquare's automated dashboard reporting exports to Excel, CSV and PDF. Users can search and view trading activity at the GL account level based on multiple criteria and see a previous or current day's reconciliations. iSquare also has matching capabilities to manage exceptions.
About ALaS
ALaS helps financial services firms establish and enhance enterprise-wide accounting, reporting and system controls. ALaS Consulting offers expertise across asset classes for product control, financial and operational risk mitigation and cost containment. ALaS Software offerings include ALaS CaPRI(TM), an enterprise-wide application that establishes control of the P&L and balance sheet substantiation process; ALaS DocPort(TM), a process and procedures documentation portal; and ALaS iSquare(TM), a three-way Subledger reporting and reconciliation solution.
For more information or to see ALaS iSquare in action, please contact: ALaS Software LLC 7 Times Square - Suite 4305 - New York, NY 10036 Telephone: 212-944-1199; Fax: 212-920-3049; Web: www.alassoftware.com
Web Site: http://www.alassoftware.com/
Contacts:
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