Legerity FastPost is based on a cutting-edge technical design. It leverages the use of powerful, in-memory data grid processing plus the latest advancements in data storage technology to allow the real-time processing and reporting of complex, high volume accounting transactions.
Legerity FastPost’s accounting rules engine enables users to adapt to new accounting standards and regulation quickly. FastPost will increase control, improve efficiency, reduce cost, maximise consistency and minimise the risk of human error. With an intuitive spreadsheet-based GUI, rules are fast to define, test and approve. Full end-to-end data lineage and audit trail help ensure data quality across the accounting process.
The rule-based engine delivers accounting accuracy and consistency. Clients can create and implement rules quickly, whether user-defined or via FastTrack standard templates. Multi-currency, multi-GAAP, multi-Ledger, multi-entity, multi-time zone and accounting complexity are all catered for.
Rules are fully version-controlled and once approved are immediately live and under
enterprise control, with comprehensive exception reporting. Updating rules to new regulations or accounting standards is fast and straightforward. New products can be on-boarded in hours.
FastPost performs at the highest levels. Millions of transactions can be processed in minutes in a batch environment, and real-time events can be handled as fast as any online transaction system. Valuable processing time is freed up to dramatically shorten close cycles.
The FastPost Ledger delivers granular, transaction-based accounting on a daily, intra-day and real-time basis. A key component of a modern financial systems architecture, the FastPost Ledger provides best-in-class sub-ledger and accounting hub design for multi-GAAP, multi-entity, multi-currency and multi-time zone processing. With a highly-flexible segment definition and summary and detailed balances, users can now unlock important business value with fast, on-demand reporting.
FastPost Ledger delivers accounting control. It provides a standardised and reconciled
accounting view across all products, clients and business lines. Account balances and transaction details are updated immediately, delivering a single version of the truth. Full support for multi-currency, multi-GAAP and multi-entity.
Highly-flexible sub-ledger capturing detailed accounting transactions across all business lifecycle events. Flexible segment definition and multiple balance types support financial, non-financial and risk aligned reporting. Multiple calendars can be operated allowing reporting for periodic and geographic variations.
Ledger reporting is instantaneous and web-based, using industry standard reporting tools. Daily or Intra-day P&L is provided alongside drill-down enquiry – from balance to journal to transaction. Manual adjustments can be made via the portal and a full audit trail is maintained.
Legerity’s comprehensive library of models and taxonomies streamline the integration of data from disparate existing systems into a single, true data-set – standardised for consistent reporting. The data model handles all type of Business, Finance and Risk Events. Out-of-the-box capabilities include support for the most complex Trades, Contracts, Products, Tariffs, Parties, Customers and Organisation structures with supporting metadata and hierarchies – all extensible and with retention and archiving fully built in.
FastPost Data benefits from hundreds of man years of industry knowledge and model design. It records the most complex of financial, risk, product and customer information across multiple sectors. Cutting-edge data design caters for highly-structured products and advanced pricing and customer relationships.
To ensure complete financial reporting integrity, the system records the accounting
information and the full business event simultaneously. Detailed product, trade and customer information can be recorded, with full traceability to the accounting entry. A
comprehensive audit trail is maintained across the system.
FastPost delivers the best-in-class, out-of-the-box, financial and accounting data model. Storing a rich source of information to meet financial, revenue, risk, product and contract-based reporting requirements – including full business lifecycle events, transaction and reference data.