Consolidating Exceptions (without Making Life Harder for Staff)

Exception reporting continues to be a big challenge for many financial institutions. And, understandably so. Bringing together exception data from dozens of spreadsheets can be tedious and error prone, especially when there’s minimal consistency in tracking. As a result, unreliable exception data becomes the norm, leading to blind spots for management and risk for the institution.

Consolidating exceptions into a purpose-built system like AccuAccount offers a better approach. This article explains why.

Challenges of “Traditional” Exception Tracking

Financial institutions commonly allow staff to define their own exception tracking methodologies, which can lead to a proliferation of spreadsheets and ad hoc systems. Inconsistent data structures combined and nuanced departmental requirements create additional complexity, resulting in:

Time-consuming data manipulation to develop basic exception reports.
Unreliable exception data that inhibits decision-making.
Overlapping exception reports that offer minimal value.
Lender confusion about where to find borrower-specific exception information.

Consolidating Exceptions in AccuAccount

AccuAccount is an enterprise content management (ECM) system that offers a better way to monitor, track, report on, and resolve exceptions. The system brings together imaging and tracking in an intuitive user interface, providing a single solution for managing expired and missing documents. Document placeholders appear automatically and remind staff what needs to be collected. Clearing an exception is as easy as dragging and dropping into AccuAccount.

AccuAccount flexibly supports a variety of departmental and back-office tracking needs, including:

As a growing number of users, teams, and departments consolidate their exception data in AccuAccount, the system’s reporting capabilities become even more powerful. Prebuilt reports push timely exception insights to subscribed users’ inboxes—without manual data manipulation. Dynamic Reporting for AccuAccount takes reporting to the next level, allowing staff to build their own exception reports in seconds.