Panera Uses Trintech’s Reconciliation Solution to Increase Visibility and Control
Panera Bread Company owns and franchises 2,024 bakery-cafes in 46 states, the District of Columbia, and in Ontario Canada operating under the Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Café names, delivering fresh, authentic artisan bread served in a warm environment by engaging associates.
Panera Bread Company’s finance department faced several problems due to manually reconciling 650 cash depository accounts, credit cards and general ledger accounts – all in Excel. Due to the company’s rapid growth, Panera Bread Company had done everything they possibly could in-house and needed to implement an automated solution to keep up with the pace.
There were several key requirements for this reconciliation solution including the ability to seamlessly integrate with Panera’s Oracle ERP system and provide detailed reporting to senior managers.
Trintech’s reconciliation solutions provide Panera Bread Company with detailed reporting, an automated workflow that enforces top-down consistency across all processes and the ability to identify issues with cash and credit card reconciliations in a matter of days, rather than weeks.