Life Insurance Company


Automating Different Reconciliation Process at Leading Life Insurance Company.

The Life Insurance Company has multiple accounts and multiple products across 85 processes. Compiling and computing over 200 data files for Banks and Vendor Reconciliation and receipts management. These processes include Internet banking, Cash Management (CMS), Central collection, Credit Card Mandate and various vendor files inclusive of Wallet based entities.


Handling huge volume of transactions, managing a number of bank accounts, and different file formats from various vendors had posed a big challenge for the Daily Reconciliation process.

Our Solutions

QuickReco Tool performed end-to end automation which included the following:

  • Auto Downloading Daily Bank and Transaction Files from IBM Notes Mailbox.
  • Auto-upload and Auto-Reconciliation of all bank and vendor files.
  • Generating various reports required for SAP System Input.


  • Implementing the QuickReco Tool led to minimum manual intervention, with an 80% effort reduction.
  • It also helped in streamlining the reconciliation process, thus improving the overall efficiency.
  • The payback of this technology investment was 4 months!