Royal London has rolled out a new financial control platform to replace its legacy data reconciliation systems and support growth plans.

The pensions, insurance and investments company said it has seen its reconciliation workload drop by around 70 per cent since it installed the technology.

Royal London partnered with technology firm AutoRek to set up the new reconciliation platform.

The platform has allowed Royal London to scale from 50-80 reconciliations to “100s.”
Additionally, Royal London said the technology has allowed it to maintain “lean and self-sufficient" finance teams.

The company added that it has managed to integrate acquired businesses without additional resources.

Chris Copley, finance systems accountant at Royal London, said the technology has changed the way the firm operates and has led to “massive growth” at the company.

"We've created more demanding internal customers because teams that experience good automation want it everywhere,” he added. “When we onboard a new company or process, the expectation is now 'make it automated from day one.’”

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