Susan G. Komen
Case Study
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Until Susan G. Komen implemented ReconNET, both headquarters and each individual affiliate were reconciling its own credit card transactions, and each used its own resources to do the work.
Nancy G. Brinker launched the global breast cancer movement in 1982. Susan G. Komen has invested almost $2 billion in its mission, working to end breast cancer in the U.S. and throughout the world. “Because each of these units had multiple merchant accounts and multiple revenue streams, the time required by each business unit for its task was significant, estimated at 120 people across Komen,” said Ria Williams, Susan G. Komen’s Director of Financial Services. This manual process also had a high potential for error. Once the reconciliations were complete, each business unit still needed to submit the revenue transactions to Komen’s ERP System.
Business Drivers to Automate
The business began by streamlining its existing manual processes around credit card and general ledger reconciliations. Susan G. Komen required an automated solution that could eliminate manual errors and provide more timely, accurate data, improve overall productivity and allow for more informed management oversight from a central repository. Susan G. Komen also wanted a solution that would help define and then enforce a systemic approach toward all reconciliations and offer more visibility and control over its Affiliate’s financial processes.
Susan G. Komen chose Trintech’s ReconNET to reconcile its credit card transactions and Cadency Certification for its general ledger reconciliations.
Once we implemented Trintech’s solutions, we were able to see significant opportunities for greater efficiencies within our accounting functions.”
Solution in Action
The implementation of Trintech’s Cadency Certification solution took approximately six weeks and offered the ability to reconcile GL accounts in groups, an automated workflow that eliminated manual error from the process, task-based notifications to ensure more timely certification, review and approval of GL reconciliations and an intuitive dashboard where management can identify potential bottlenecks before they occur.
It previously took 120 employees to manually reconcile Susan G. Komen’s credit card transactions, and revenue submissions to the general ledger were often delinquent. With ReconNET’s powerful matching engine, one person, who spends most of their time resolving a small number of exceptions, now accomplishes this work every day.
“These savings represent hundreds of thousands of dollars every single year,” said Williams.
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