Brinker International Streamlines Operations in Over 1000 Stores
Overview
Brinker International is the premier casual dining restaurant company in the world and has received numerous accolades through the years for its outstanding performance. The company started in 1975 with a neighborhood-style restaurant called Chili’s that served quality homemade food in a casual atmosphere. The name was changed in 1991 to Brinker International, Inc. to encompass a growing restaurant portfolio. The trend-setting, multi-concept company now has more than 1,100 restaurants which include: Chili’s Grill & Bar, Romano’s Macaroni Grill, On the Border, Cozymel’s, Maggiano’s, Corner Bakery, and Big Bowl.
Challenges
Deposit verification and reconciliation was being performed manually, consuming too much time and becoming too difficult to manage. Thousands of daily details were overwhelming the staff and impossible to keep current without an electronic banking reconciliation system. Brinker wanted to implement an automated electronic method to reconcile deposits easier and identify exceptions faster. With the manual method, by the time they were able to research a deposit correction, it was 60 days old.
Objectives
Brinker International wanted to achieve the following objectives:
- Streamline the depositing process and automate the reconciliation process
- Provide reports to operations on missing and late deposits on a timely basis and encourage restaurant managers to manage deposits accurately
- Decrease bank fees and lower the number and amounts of deposit corrections
- Decrease human error and the amount of time required to manage daily details
- Implement an electronic banking system to keep account reconciliation and deposit corrections current
Capabilities Provided
Brinker International utilizes ReconNET for deposit verification and exception management. The company benefits from numerous transactional and operational efficiencies including:
- E-mail documentation of correspondence with restaurants
- Tighter controls around cash and increased compliance
- Simplified search and reporting capabilities - automatic information queries eliminate time-consuming manual searching through bank statements
- Sarbanes-Oxley compliance - with everything in the same format and matched according to rules, notifications are provided via the research module ensuring that every communication is worded the same
Testimonial
“If we were to operate without ReconNET today, we would need to add five new positions to accomplish the same level of work. The time we spend researching deposit corrections has decreased by 25% because everything is now automated.” - Mary Healy, Treasury Manager
Other Information
For more information on how you too can improve Sarbanes-Oxley compliance with ReconNET, contact Trintech today.
