Simplifying the Close for Retail & eCommerce
As a finance and accounting team within the retail industry, you are expected to manage large volumes of transaction data, keep up with changing payment trends, provide business-critical insights as the economy shifts, and more. As your organization grows and the world of e-commerce enables consumers to buy more goods at a faster pace, the demands and expectations of the Office of Finance increase in tandem.
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Effectively Manage High-Volume Transactions While Providing Valuable Insight to the Business
Leading organizations know that they must adapt and modernize their financial close process in order to effectively close the books and keep up with today’s fast-paced world.
With the support of proven financial process automation, finance and accounting departments are learning to work smarter and more efficiently, ensuring their time and effort is focused on high-value activities that will drive the strategic direction of their organization.
Manage Data Across Complex Transactions
Focus on Exceptions While Managing Volume
Support Organizational Growth
Get your data right
Identify and organize your data more effectively from different sources of data such as credit and debit cards, cash, checks, giftcards, etc. Automated Matching improves efficiency and effectiveness, while subsequently reducing the monthly time spent reconciling.
Focus on what matters
Defined thresholds, variances, and tolerances on dates and amounts help drive up the automated match rate and reduce the time to manually match, allowing your teams to focus on exceptions.
Be proactive
With all financial close information in one place, your team can perform an in-depth analysis on your close data to further increase efficiency and improve accuracy, preparing your organization for future growth.
See What Your Colleagues Are Achieving
Ralph Lauren Reduces Time To Close and Monthly Cash Shortages
Read Case StudySince implementing Trintech, Ralph Lauren has seen:
- Reduced Monthly cash shortages
- Monthly closing time shortened
- Time reduced for reconciliation and now done by a single employee
Reporting is a big plus for us. We’ve created numerous custom reports with the data now available and can share them quickly with our stores, district managers and loss prevention personnel. Management has grown to depend on the information.”
Norwegian Online Retailer Controls Growth with Trintech’s Adra Suite
Read Case StudyBy using Adra, Bransdal Group was able to:
- Spend less time on manual reconciliation tasks
- Gain visibility and control of tasks
- Complete documentation for internal control and the auditor
Having a system that handles the identification while managing the progress of balance reconciliation created value for us. We have a better overview of whether we’re on track for the month-end.”
UK retailer uses automation for greater efficiency and control across the financial close
Read Case StudyBy using Adra, Hobbycraft were able to:
- Resolve exceptions quicker
- Gain confidence in the accuracy of their numbers
- Improve their processes to refocus times on higher value-add tasks
It was critical that we made sure to implement a solution that captured thatknowledge so that all our processes were well documented and visible to ournew and existing team members. With Adra, we now have a robust tool inplace, and I no longer have to worry about a single point of failure.
Workday Packaged Solutions
Packaged Solutions automate complex account reconciliations and high-volume, multi-source transaction matching based on deep retail industry knowledge and experience to streamline the financial reconciliation and close process within Trintech while optimizing planning and consolidation in Workday.
New Daily Recs Feature in Cadency
The new Daily Recs feature in Cadency is especially helpful to those in the banking, financial services and industries. For organizations that must perform daily reconciliations, this allows them to comply with regulatory requirements, reduce risk, and see their financial position throughout the month, not just at month-end.
More Videos
Kroger Creates Efficiencies & Finds a Strong Partnership with Trintech
See how Kroger, a 20-year Trintech customer, achieves greater financial standardization and fewer accounting errors with Trintech’s ReconNET for high-volume transaction matching.
Northern Tool – How the Retailer Got Their “Cleanest Books In Years”
Learn how Trintech’s Cadency solution helped retailer Northern Tool gain better visibility into the month-end close, leading to their cleanest books in years.
Ahold Delhaize Uses Cadency by Trintech to Deliver Next-Level Visibility on a Global Scale
Learn how Ahold Delhaize, one of the world’s largest food retail groups, gained better account control with real-time monitoring, global-level visibility and detailed reporting of their financial close with Cadency by Trintech.
Connect Your Data with Our Universal Plug and Play ERP Integrations
What is needed to transform and revolutionize the Office of Finance is an enterprise system of controls that enables an efficient close with accurate and reliable reporting. This system of controls needs to work closely with your financial system of record, for example, your ERP system, to enable activities such as transaction account matching, GL reconciliations, close tasks, journal entries, or even compliance testing while extending into your Office of Finance’s ecosystem for controls in treasury, tax, reporting and more.
Trintech’s certified technology partnership with SAP® solves unique problems for SAP® customers by automating critical financial close activities that typically sit outside of the ERP.
Whether you use Oracle EBS, Oracle Fusion, or another instance, our suite of solutions handles everything from your initial reconciliation of transactions to your final financial reports.
Trintech has created the first and only financial close solution embedded in Microsoft Dynamics 365 to help enhance your operations and financial close management processes.
The premier end-to-end unified close process providing control and visibility from close to consolidate to report and plan, allowing the Accounting team to completely focus in the close process.
Trintech’s industry leading NetSuite ERP connector allows you to seamlessly connect and use your data in Adra and Cadency. You’ll now have real-time visibility within a single console.
Orchestrate and manage all system and close activities with a reliable, repeatable, and highly visible workflow to quickly identify bottlenecks and create actions for issue resolution.
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