Seldom would a company consider an increase in sales to be a problem. However, because every sale translates into a transaction that needs to be properly reconciled, for most companies, the amount of transactions they handle daily far surpasses what they can handle efficiently, and most of all—accurately.
Most companies today see the bulk of their customer sales in the form of credit and debit card transactions, as 75% of consumers prefer using some form of electronic payment card for their purchases. Credit cards have revolutionized the speed and efficiency with which consumers can pay, but this leaves accounting teams struggling to manage the volume of transactions associated with this payment method.
Within this eBook you’ll find offers five first steps companies must take to improve their overall credit card reconciliation process.