Chesapeake's SmartAnalysis Debuts Enhanced Functionality

Version 5.5 Imports Electronic TWIST Files and Computes "What-If" Scenarios

 Owings Mills, Md. — Chesapeake System Solutions, Inc.® (www.chessys.com), a provider of integrated financial governance, risk management and compliance software solutions to the world's foremost enterprises, formally announced today the release of version 5.5 of its SmartAnalysis® application, a sophisticated software for analyzing commercial bank fee data. The update enhances the overall account analysis capabilities of the software...

Sterling Life Insurance Selects Chesapeake System Solutions as Business Partner for Comprehensive Treasury Management Strategy

Hosted Solutions Implement Total Control Framework and Optimize Financial Operations

 Owings Mills, Md. - Chesapeake System Solutions, Inc.® (www.chessys.com), a provider of integrated financial governance, risk management and compliance software solutions to the world’s foremost enterprises, today announced that Bellingham, Wash.–based Sterling Life Insurance Company, a nationally recognized provider of a family of insurance products, recently implemented hosted versions of its entire suite of software solutions as part of a comprehensive treasury management strategy....

 

CSC Implements Chesapeake System Solutions’ Unclaimed Property Compliance System

 UPCS Provides Platform for CSC’s Outsourced Unclaimed Property Service Offering

Owings Mills, Md. - Chesapeake System Solutions, Inc.® (www.chessys.com), a premier provider of integrated financial governance, risk and compliance software solutions to the world’s foremost enterprises, announced today that Corporation Service Company® (CSC®), a leading provider of legal and financial services for many of the world’s largest companies, law firms and financial institutions, recently implemented its Unclaimed Property Compliance System (UPCS®) software. UPCS provides the platform for the unclaimed property service CSC offers its client corporations....

Cumberland Farms Selects Chesapeake IDM and SmartAnalysis Software

Integrated Applications Will Enhance Risk Management and Promote Savings in Treasury Operations

 Owings Mills, Md. - Chesapeake System Solutions, Inc.® (www.chessys.com), a premier provider of integrated financial governance, risk and compliance software solutions to the world’s foremost enterprises, announced today that Cumberland Farms, Inc., the largest privately held convenience store/petroleum marketer in the Northeast with about 1,000 locations from Maine to Florida, has selected Chesapeake IDM™ (Internet Data Manager) and SmartAnalysis® with SmartAnalysis RM™ to minimize risk and promote savings in the corporation’s treasury operations....

Chesapeake System Solutions Offers Outsourced Unclaimed Property Service

Chesapeake Leverages Its UPCS Software and Corporate Expertise to Ease Firms’ Unclaimed Property Compliance Burden

Owings Mills, Md. - Chesapeake System Solutions, Inc™ (www.chessys.com), a premier provider of integrated financial governance, risk and compliance software solutions to the world’s foremost enterprises, announced today that it is offering outsourced unclaimed property compliance services to assist firms in mitigating the risk of noncompliance with state laws. This new service leverages Chesapeake’s 15+ years of expertise in developing and licensing the premier unclaimed property management application on the market today—Chesapeake’s Unclaimed Property Compliance System (UPCS®)—as well as providing a hosted version of its UPCS solution for a number of years. Currently, over 800 companies rely on UPCS to manage their unclaimed property function in strict compliance with the diverse rules of all 54 reporting jurisdictions.

Aetna Selects Chesapeake's T-Recs Enterprise for Global Treasury Operations

Owings Mills, Md. - Chesapeake System Solutions, Inc.® (www.chessys.com), a premier provider of integrated financial governance, risk and compliance software solutions to the world’s foremost enterprises, announced today that Aetna, Inc., a leader in health care, dental, pharmacy, group life and disability insurance and employee benefits, has selected T-Recs® Enterprise to automate reconciliation of its global accounts. Following an extensive search process, Aetna determined that T-Recs Enterprise met the requirements of its business units...

One for Column A

Kathleen B. Wynn is Senior Vice President and Product Manager for Chesapeake’s T-Recs® Enterprise Software and the author of “One for Column A” published in the July/August 2008 issue of AFP Exchange.

Automating Reconciliation for the Entire Balance Sheet

Automating reconciliation used to be an activity limited to Treasury departments, and typically focused on cash accounts. With the advent of Sarbanes-Oxley and other corporate governance standards, automating cash account reconciliation is no longer sufficient. Corporations must implement a repeatable process for reconciling the entire balance sheet. This is often a big challenge for organizations due to the differing nature of the various balance sheet accounts. What works for cash may not work for Fixed Assets, and what works for Fixed Assets may not work for prepaid accounts. What is the best approach to take to meet regulatory requirements, leverage existing processing, and not reinvent the wheel? The good news is that this path has been traveled by many organizations, and there are well defined guidelines and solutions out there for the taking....

Texas A&M Harnesses the Power of Chesapeake’s T-Recs Enterprise

 Single Solution Reconciles General Ledger and Identifies Business Process Improvements

 Owings Mills, Md.-- Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced that Texas A&M University, a research university in College Station, Texas with over 47,000 students, is using T-Recs® Enterprise to reconcile its balance sheet. Notably, Texas A&M’s main financial department, Financial Management Operations, is using T-Recs Enterprise to reconcile more than 200 accounts, including those of two other members of the statewide Texas A&M University System: Texas A&M–Galveston and the Texas Veterinary Medical Diagnostic Laboratory. Texas A&M plans to bring on hundreds of additional accounts in the near future. This rollout is a direct outgrowth of the confidence inspired by the financial controls within T-Recs Enterprise and the time efficiencies the solution has reaped.

Central Bancompany Mitigates Risk with Chesapeake’s T-Recs Enterprise

 Single Solution Consolidates Cash and Non-Cash Reconciliation, Exception Management and Workflow across 13 Community Banks

 Owings Mills, Md. --Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced that Central Bancompany, Inc., a full-service financial institution based in Jefferson City, Mo., is successfully using T-Recs® Enterprise and Internet Data Manager (IDM™) as central components of efforts to minimize operational and financial risk. Central Bancompany, which has nearly $8.5 billion in assets, serves markets in Missouri, Illinois, Kansas and Oklahoma through 13 community banks with approximately 175 locations. Central also operates a full-service trust affiliate.

Leading Global Business Process Outsourcer Purchases Chesapeake System Solutions’ T-Recs® Enterprise

 Application to Support Finance and Accounting Outsourcing for Multinational Commercial Firms

 Owings Mills, Md. -- Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced that a global provider of business process outsourcing and information technology services and solutions, has purchased Chesapeake’s T-Recs® Enterprise software. Under the terms of the agreement, the firm obtained an enterprise-wide license, which will allow it to make this robust technology available to all its clients. Chesapeake understands that the company plans to employ T-Recs Enterprise in its worldwide operations centers eventually, but will first deploy the technology in finance and accounting outsourcing activities....

Chesapeake’s T-Recs Enterprise Offers All-in-One Financial Governance Solution

Application Provides Both Account Reconciliation and Review-and-Approval Functionality for SOX Compliance

 Owings Mills, Md. -- Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced the availability of a powerful, all-in-one application that helps organizations comply with the Sarbanes-Oxley Act of 2002 (SOX) and other corporate financial governance standards. T-Recs® Enterprise, which stands for Total Reconciliation Solution, gives corporations the ability to satisfy the broad requirements imposed by these regulations, which include implementing internal controls and procedures for financial reporting and attesting to their effectiveness. Most applications automate either a review-and-approval system or a matching process...

 Ford Motor Company Implements Chesapeake System Solutions’ T-Recs Enterprise

Automated Reconciliation and Exception Management of High-Volume Accounts Saves Time

 Owings Mills, Md. -- Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced that Ford Motor Company recently implemented Chesapeake’s flagship product, T-Recs® Enterprise, to automate the reconciliation of corporate disbursements. The implementation involved high-volume accounts for payroll and other accounts payable, providing Ford an automated means to review transactions...

Chesapeake Offers Banks an Innovative Hosted Data Collection Solution

 IDM Service Reaches More Banks Less Expensively and Collects Current-Day Data for Banks’ Corporate Customers

 Owings Mills, Md. -- Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations, today announced the availability of its IDM™ Service, a hosted data collection solution. Designed specifically for the banking industry as a service offering for corporate customers, IDM Service reaches more banks more efficiently and collects current-day banking data at a lower cost than traditional methods....

Chesapeake’s SmartAnalysis Goes Live at National Life Group

National Life Group Estimates Full Return on Investment in Year One

Owings Mills, Md. -- Chesapeake System Solutions, Inc.® (www.chessys.com), an industry leader in providing automated reconciliation, treasury workstation, bank data management, bank account analysis, bank relationship management and compliance software, today announced that its SmartAnalysis® software successfully went live at National Life Group® (www.nationallife.com) headquarters in Montpelier, Vermont. National Life Group is a family of financial services companies that reported over $19.3 billion in assets under management at the close of 2006....

Miller Group Implements Chesapeake IDM (Internet Data Manager)

OWINGS MILLS, MD.-- Chesapeake System Solutions, Inc®, a leading provider of reconciliation, treasury workstation, account analysis and unclaimed property compliance software, announced today that the Miller Group, an organization that operates 17 Arby's restaurants in central Illinois, has implemented its Chesapeake IDMT software to streamline their financial data collection....