Success Story Library
Buffalo Wild Wings Automates Cash and Credit Card Reconciliation with ReconNET
Overview
The Buffalo Wild Wings restaurant chain specializes in serving Buffalo-style chicken wings with 12 different dipping sauces, as well as assorted appetizers, burgers, salads and sandwiches. More than 350 Buffalo Wild Wings Grill and Bar restaurants are located in 34 states. The company owns and operates more than 120 restaurants. The remaining restaurants are operated by franchisees.
Challenges
Buffalo Wild Wings was managing its reconciliation processes manually, daily matching the previous days receipts from the POS system to bank statement information retrieved online or via phone. Even with a large accounting team, the process was demanding.
Much of the team’s effort was spent acquiring information and then analyzing the data for accuracy. Identifying and resolving exceptions was difficult and delayed. Also, stores required better monitoring and notification of discrepancies. Managing idle funds in depository accounts was also complicated without an automated system.
Objectives
Buffalo Wild Wings wanted to achieve the following objectives:
- Eliminate manual processes and increase the efficiencies of accounting staff
- Reduce exposure to risk to eliminate losses due to error and fraud
- Turn focus to resolving exceptions and other critical issues
- Maximize the use of available funds
Capabilities Provided
Buffalo Wild Wings selected ReconNET to automate the verification and reconciliation of its cash and credit cards, and maximize the use of available funds. The Trintech solutions allows the company to:
- Automatically reconcile their cash and credit card deposits on a daily basis
- Support their exception resolution processes, including reporting on incidents and exception items through built-in research features
- Immediately detect and flag issues for review and automatically notify the field
- Automatically sweep cash from depository accounts into concentration accounts
Testimonial
“Since using ReconNET, we’ve successfully provided accurate and timely information to the field, and have experienced a reduction in lost deposits. Additionally, by improving our cash utilization, we’ve been able to substantially lower our idle cash balances.” - Jeff Sorum, VP Corporate Controller
Other Information
For more information on how you too can increase productivity and reduce costs with ReconNET, contact Trintech today.
