Genesco steps into an automated financial reconciliation process
Genesco is a national-based, specialty footwear retailer with 1,480 locations throughout the U.S., Canada, and the UK. In early 2017, Genesco created Nashville Shoe Warehouse to sell merchandise online.
Before Trintech, Genesco’s MarketPlace, an application used to facilitate online transactions, consisted of different settlement cadences, reporting structures and reporting timing. Due to timing differences and reporting limitations, Genesco was unable to efficiently balance reconciliations.
After three years, Genesco has a standard, yet automated process for all Genesco’s MarketPlace sites using ReconNET. Genesco used ReconNET to help identify problems earlier, therefore fixing broken processes that caused incomplete payment.