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Convenience Store Giant Improves Cash Management Processes
Overview
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry and observed its 75th anniversary in 2002. Headquartered in Dallas, Texas, 7-Eleven operates, franchises and licenses close to 25,000 convenience stores throughout the United States, Canada and 17 other countries and U.S. territories. 7-Eleven stores worldwide generated total sales of more than $33 billion in 2002.
Challenges
As one of the world’s largest operators of convenience stores, 7-Eleven’s success is based on identifying and standardizing best practices. Previously, 7-Eleven had developed various home-grown reconciliation and cash management systems in different locations. The company was looking to streamline these functions and implement an innovative new financial kiosk system in the US called Vcom®. 7-Eleven’s Vcom kiosks merge ATM capabilities with self-service check cashing, money order, money transfer and other services and provide 24-hour, touchscreen convenience and a variety of payment methods on a single device.
Capabilities Provided
After analyzing 7-Eleven’s specific requirements, the Trintech team recognized that 7-Eleven required a solution that would achieve diverse objectives, including improving organizational productivity, standardizing business processes, and improving the company’s cash position. The Trintech team installed ReconNET at 7-Eleven’s Dallas headquarters as the back-office transaction-reconciliation solution for the Vcom initiative.
Testimonial
“Trintech’s ReconNET solution has helped to streamline a complex and time-consuming process. As part of our Vcom initiative, ReconNET allows us to improve cash management with the confidence that our revenues will be reported accurately and in a timely manner.” - Michelle Waters, Manager of Revenue Accounting
Other Information
For more information on how you too can improve cash management processes with ReconNET, contact Trintech today.
