âIf you have any data that needs matching and you require exceptions to be quickly identified and addressed, GroupIT is the product to use.â comments Peter Marshall, one of the founding directors of GenaRec. âIts flexibility, power and auditability are quite remarkable and it goes far beyond traditional cash to bank reconciliations. GroupIT can match and compare any textual or numeric data that is stored in a data file (including databases) and can handle positional reconciliations as easily as transactional ones. Key to the solution is the intelligence that it brings in the interpretation of input files to build intelligent data, which allows for completeness and accuracy of matching.â he continues.
Aurum Solutions, based in the United Kingdom, was formed in 2004 specifically to develop GroupIT. Aurum will be working closely with newly formed GenaRec in bringing GroupIT to this exciting new market.
âGroupIT has experienced enormous success in the UK market over the last few yearsâ comments Helen Belcher, Managing Director of Aurum Solutions, âand we look forward to working with GenaRec in extending our client base into Africa and the Middle East.â She visited South Africa recently to provide the GenaRec team with extensive technical training and had an opportunity to present the product to a number of prospective clients. âOur existing client base includes solicitors, retailers, finance houses and a global currency exchange provider to name a few. This diversity is testament to the flexibility of the product and we are always looking for new challenges.â
GenaRec is based in Johannesburg and Pretoria. The founding members are extremely enthusiastic about the functionality that GroupIT will provide the market. âThis is a world class product,â comments Marshall. âIts ease of use and straight-forward installation make it a toolset worth taking note of. Businesses in South Africa are already showing an interest and we are extremely confident that GroupIT will be seen as a valuable application in the data matching and reconciliation market.â