Retail Case Study

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

“Even though our workload is increasing with how fast we are growing, we are able to keep up with the work thanks to Trintech’s solutions.”

“Management now has one place to gain the necessary visibility and transparency needed to effectively manage the financial close.”

“Reporting in the solution is very flexible, with additional reporting or changes being easy to execute.”

“We now have a more robust control framework, so we are confident in the accuracy and completeness of our numbers.”

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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