Chesapeake System Solutions: State-of-the-Art Financial Software Tools

Today’s enterprises embrace financial productivity tools, which combine software and human intellect, to be more efficient, thorough and accurate. “Currently, the major productivity challenge is the trade-off between efficiency and security, including data sensitivity as well as network control,” states Peter C. Vogelberger, President and CEO of Chesapeake System Solutions. Simple productive approaches like hyper-automation, sharing responsibilities and duties, off-shoring, outsourcing and cloud computing often pose a security threat. To counter these challenges, Chesapeake System Solutions provides fully integrated security that does not interfere with a company’s functionality. Founded by a group of experienced financial software professionals, Chesapeake System Solutions specializes in financial governance, risk management, reconciliation and compliance for corporations and banks. Chesapeake’s customers cover the spectrum of corporations from global enterprises to domestic retailers and restaurants, adding productivity and efficiency throughout the entire transaction lifecycle. “We offer the same services to banks to manage their internal financial governance,” Vogelberger adds.


Chesapeake System Solutions strives to maximize automation and minimize manual effort by providing the best functional tools to complete the task efficiently


Chesapeake System Solutions’ technology enables banks to extend treasury management and reconciliation services to their corporate customers. Chesapeake’s solutions also support efficient and automated exchange of transactions, including initiation, execution and reporting between financial partners over existing public and proprietary channels. Chesapeake System Solutions strives to maximize automation and minimize manual effort by providing the best functional tools to complete the task efficiently, avoiding errors and omissions. The company’s software can be implemented within the existing back-office operations—licensed, hosted or mixed—without re-engineering.

The company’s flagship solution, T-Recs Enterprise, is a single, comprehensive, enterprise-wide solution that validates all types of financial data— internal and external and transactions and balances. The solution’s processing power, flexibility and scalability make it easier to integrate with other back-office systems, filling in functional gaps missing in other systems.As a global solution, T-Recs Enterprise supports multi-currency, multi-language and multi-time zone operations.

T-Recs Enterprise customers include everything from Fortune 500 companies to regional banks that want to expand their corporate market by offering cash management services. Such services include transaction reconciliation and fraud prevention using the solution’s positive-pay processing functionality. Chesapeake’s solution enables banks to offer these services and create a new revenue-producing business.

Chesapeake System Solutions also offers SmartAnalysis, SmartTreasury, Unclaimed Property Compliance System (UPCS) and Internet Data Manager™. These powerful and comprehensive products work seamlessly together to fulfill the treasury and financial needs of businesses. “Customers that implemented our SmartAnalysis solution have discovered bank fee discrepancies, saving them more than the cost of our product,” adds Vogelberger. By design, these solutions offer the flexibility to accommodate existing business processes, while offering insights on ways to increase operational economy and efficiency.

“To accommodate our licensed customers, our products can be installed on various platforms. Practical use of sophisticated technology and open-ended development techniques give us great flexibility in how we implement our functionality to suit specific application needs,” says Vogelberger. Focused on the real-world needs of financial service productivity, the company is currently working on areas of business process modeling, workflows and dashboards, data mining and analytics, and straight-through-processing with enterprise application integration. In addition, keeping pace with the revolution in mobile devices, Chesapeake System Solutions is actively pursuing tablet and smartphone workstation functionality to tackle the challenging security issues associated within these platforms.

Company
Chesapeake System Solutions

Headquarters
Birmingham, AL

Management
Peter C. Vogelberger, CEO & President

Description
A leading provider of financial automation software that encompasses account reconciliation, financial governance, risk management, liquidity management and regulatory compliance for organizations and financial institutions