A software solutions provider, Chesapeake System Solutions, today announced that Ford Motor Company recently implemented Chesapeake's flagship product, T-Recs Enterprise, to automatically the reconcile corporate expenditures.

 

Providing Ford an automated way to review transactions, the implementation used high-volume accounts for payroll and other accounts payable.

 

By smoothly collecting and consolidating financial transactions from internal and third-party sources, T-Recs Enterprise performs data analysis using its powerful engine. Built-in flexibility allows Ford, or any user, to set their own rules and craft these parameters down to the account level.

 

T-Recs Enterprise also allows users the capability to configure their exception management and resolution process to comply with existing corporate processes. Many systems on the market today force users to conform to system-defined rules and exception management procedures.

Peter Vogelberger, CEO, Chesapeake, said, "Chesapeake is proud that Ford, a global automotive industry leader, selected T-Recs Enterprise to automate this vital corporate activity. Our selection by a corporation of this stature underscores our product's scalability and robust functionality, helping to solidify its posture as the perfect financial software solution for organizations of every size."

 

Ford also uses Chesapeake's Unclaimed Property Compliance System (UPCS) to track and manage its unclaimed property.

Ford Motor Company is a global automotive industry leader based in Dearborn, Michigan, manufacturing or distributing automobiles in 200 markets across six continents. With about 245,000 employees and about 100 plants worldwide, the company's core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company.

 

Headquartered in Owings Mills, Maryland, Chesapeake is among the industry leaders for providing integrated software solutions that simplify the complexities of financial and treasury management operations. Since 1993, Chesapeake System Solutions has helped national and international organizations of every size improve productivity, lower costs and document compliance with regulatory requirements including Sarbanes-Oxley and PCI Standards.

 

Whether providing automated ways to reconcile cash and non-cash accounts, manage corporate treasury functions, analyze bank account information or track unclaimed property, Chesapeake's products not only respond to specific financial needs but also incorporate those essential higher-level functions of financial governance, financial performance and regulatory compliance through built-in provisions affording internal controls, data security and process oversight.