We are using Coprocess for Reconciliation…we see huge benefits, it takes away manual Excel based recon process, solves issues where we used to be told frequently by business units ‘there is no response from counterparty’. Now we get the whole dataset, one person per country performing the upload of invoice information. We have 400 participants and around 300 of these have activity each month. Recon is phase 1 we are looking to move to phase 2 (centralized settlement in Netting) shortly.
