Clas Ohlson Saves Time, Money and Staff by Automatically Reconciling with Adra® by Trintech
Increasing the Efficiency and Accuracy of the Balance Sheet Reconciliation Process.
Business Drivers to Automate
Prior to implementing Adra® by Trintech, Clas Ohlson was conducting the reconciliation process using pen and paper which took a significant amount of time and personnel. With the company steadily expanding with more stores in Sweden and abroad, they knew they needed a more efficient and accurate process to keep up with their rapid growth.
“Manually reconciling is an incredibly time-consuming job—I know because I had to do it when we opened our new stores in the UK,” said Daniel Åberg, accountant at Clas Ohlson. “It took me as long to reconcile the two stores in the UK manually as it normally takes me to do twelve in Sweden.”
Why Adra® by Trintech?
A retail chain like Clas Ohlson has very high volumes of transactions that place heavy demands on control, accuracy and efficiency. Automatic reconciliation clears all transactions that match each other so that the accounting staff can focus their time and energy on the exceptions (the accounts that are still open). Instead of a flood of reconciliations each month, Clas Ohlson now only has a few.
Adra helps Clas Ohlson reconcile the different types of transactions, such as daily receipts, gift vouchers and credit card payments from the various credit card companies such as, VISA, Mastercard, and American Express. The solution can also easily match the amounts to specific markets and shops, making it easier to check the cause of differences in the accounts. Adra can also be used to sort out debit and credit on internal accounts, such as the balance sheet accounts.
Solution in Action
“We would never be able to meet our deadlines for reconciliations every month without Adra,” said Daniel Åberg. “A manual approach would mean that I could not do my job, or we would need to hire more people. It’s hard to imagine that there was any other way before Adra.”
“The time saved each month is enormous,” says Anna Eriksson, Account Manager at Clas Ohlson. “Just reconciling the 54 Swedish stores would take several days a month. Now, with Adra, it’s done in one hour.”
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