An innovative financial automation solution that transforms daily Net Asset Value reconciliation by eliminating manual processes, reducing processing time from hours to just 5 minutes while enhancing accuracy and providing immediate exception identification.

Automated NAV reconciliation system transforming daily financial operations

This powerful financial automation solution eliminates hours of manual fund accounting work by automatically collecting data from multiple sources, performing complex calculations, and updating reconciliation systems—reducing processing time from hours to just 5 minutes while improving accuracy and scalability.

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Core Functionality

The NAV Recon system revolutionizes daily Net Asset Value reconciliation by automating the collection of data from banks, accounting systems, custodians, and additional sources. The solution performs all necessary calculations and automatically uploads the processed information to Flokzu for review, immediately flagging exceptions for investigation rather than discovering them after manual processing.

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Technical Information & Development

The solution features a sophisticated technical architecture using low-code development tools version 6 with comprehensive automated testing and an API-first approach. Key technical components include:

• REST API and Webhook for Flokzu integration

• Workflow model to track information collection and calculations

• Configuration web interface for tracking and management

• SSRS API integration

• SFTP download capabilities

• Automated import of SSRS reports and custodian files

• Investec open banking API integration

• SQL procedures for complex calculations

• API calls to update Flokzu instance details

• Selenium scripts (Python) for web report downloads

Development required 3 months with 2 months of UAT, though implementation was delayed by 2 months while waiting for third-party dependencies.

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Business Impact

The implementation delivers transformative operational improvements:

• Reduction in processing time from hours to just 5 minutes

• Elimination of duplicate work previously required for verification

• Immediate exception identification instead of post-process discovery

• Significant resource cost savings

• Dramatic reduction in NAV reconciliation errors

• Proactive identification of accounting system or custodian issues

• Enhanced scalability for business growth without team expansion

• Improved compliance and audit capabilities

• Comprehensive process tracking and visibility

• Sophisticated multi-currency handling

Though not yet in production (scheduled for deployment this month), the system has already identified accounting system issues requiring remediation, demonstrating its value in quality improvement.

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