|AEGON Canada Selects CheckFree RECON-Plus for Windows to Automate Reconciliation Operations|
Monday August 25, 9:30 am ET
ATLANTA, Aug. 25 /PRNewswire-FirstCall/ -- CheckFree Financial and Compliance Solutions, a business unit of CheckFree Corporation (Nasdaq: CKFR - News), today announced that AEGON Canada Inc., a member of the AEGON Group and a leading Canadian provider of innovative life insurance and investment products, has selected CheckFree RECON-Plus for Windows to automate the bank to general ledger transaction reconciliation of its inter-company locations. AEGON Canada joins CheckFree's client list of leading insurers as well as broker/dealers, investment managers, banks, custodians, and other financial services firms worldwide.
By leveraging the power of automation with CheckFree RECON-Plus for Windows, AEGON Canada is able to demonstrate its leadership in the marketplace and maintain a competitive advantage over other insurance companies. RECON- Plus for Windows can reconcile AEGON Canada's internal general ledger as well as virtually any other type of account. Most importantly, manual matching and compiling of exception items can be significantly reduced because RECON-Plus for Windows has the ability to match over 95 percent of an organization's transactions automatically.
"Quickly identifying and resolving exceptions has helped us to improve our operational efficiencies," said James Falle, Executive Vice President and Chief Financial Officer, AEGON Canada. "With the automatic matching, we now have more time to research and resolve the true exception items. AEGON Canada's transactions are often spread across multiple accounting systems and various accounts so RECON-Plus for Windows gives us a clear picture of cash position at all times. This reduction in operational risk is crucial in today's marketplace."
"CheckFree's best practice solution and support has provided AEGON Canada the ability to focus on more time-critical tasks and gain superior control over reconciliation," said Mark Zill, Senior Vice President and General Manager of CheckFree Financial and Compliance Solutions. "Firms today cannot wait to address organizational inefficiencies. RECON-Plus for Windows is a smart, proven, cost-effective way to deliver immediate results and allow for future organizational growth. . ."