The initial launch of ReconNET by Trintech was hampered by a reorganization and resultant accounting staff departures, making originally intended deployment difficult.
About Jenny Craig
Jenny Craig Inc., is a weight management and nutrition company founded in 1983. The concept was started in Melbourne, Victoria and two years later began US operations in Carlsbad, California, where the company is now headquartered. Today, Jenny Craig has more than 700 weight management centers in the US, Australia, Canada, France, the UK, New Zealand and Puerto Rico, and employs over 3,000.
Business Drivers to Automate
Usage of key features by untrained personnel resulted in numerous time-wasting manual processes. Month-end closes were severely delayed, exception items were slow to be discovered and corrected, and decade old methods for communicating overages and shortages and other discrepancies to field management were negatively impacting performance reporting.
The Jenny Craig Controller outlined several key objectives for its redeployment. These key objectives included implementation of credit card reconciliation in addition to the previously enabled capabilities. Jenny Craig also wanted to adopt and use ReconNET’s extensive research function to automate field communication. To make financial progress, they needed to reduce cash shortages and bank fees and improve treasury management efficiency. By increasing overall staff productivity and minimizing turnover, they would be able to reach new heights within their organization.
Solution in Action
Since redeployment, the department is realizing originally intended benefits such as immediate detection and flagging of issues, automatic disbursement of information to proper field managers for rapid problem resolution, quick resolution of exception items and the elimination of losses due to chargebacks, fraud and human error. The department was also able to automate its month-end close after redeploying the solution. The freedom to redeploy previously burdened, labor-ridden employees to more fulfilling and business-critical roles within the company and on-going compliance with audit, accountability and reporting standards were also realized.
Jenny Craig attributes many departmental improvement results to ReconNET. Reconciliation staff has reduced by 1.25 FTEs, resulting in soft dollar savings of roughly $60,000 annually. An additional 1.25 payroll FTEs have been redeployed, saving the accounting department $53,000+ each year. 90% of all fax and telephone communication with the field for routine advisories have been eliminated. Reconciliation time has been reduced from three weeks to just five days, representing a 67% improvement. Real-time exception item detection has resulted in faster resolution and “corrections while transactions are still fresh.”
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