Case Study

Retail Case Study

Leading Retail Organization Gains the Visibility Needed to Efficiently Manage Its Financial Close Process

With an ongoing vision to be a fast growing, innovative, trusted and dynamic company, this retailer was looking for a solution that could automatically reconcile high volumes of data transactions and detect exceptions and missing or inaccurate data. They also identified a need for a solution to improve the month end close process and automate a number of the manual, time-bound and interdependency- bound processes.

The organization selected Trintech’s ReconNET solution for its pensions, legacy store banking and Oracle bank reconciliations. Since deploying Trintech’s solution, they have seen benefits including:

Pensions

  • Auto-match rate: 96%
  • Time Saved:
  • 5 hours > 1 hour
  • 5 days > ½ a day
  • FTE Savings: 2 FTE avoidance

Legacy Store Banking

  • Auto-match rate: 84%
  • Time: 56% – 58%

Oracle Bank Reconciliation

  • Auto-match rate: UAT 99%

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