Overview
Account reconciliation at a large financial institution was taking too long. The project team found it was taking 32 hours to manually track and sign-off on zero-value reconciliation points. Process changes included automating the exclusion of zero-value reconciliation points and redesigning the Excel reconciliation file. Also, training was provided to eliminate non-value added process steps and to improve software utilization. As a result, reconciliation time was reduced from 46 to 34 hours, and 41 additional hours were saved through replication.