The Abrantix Advantage—20 Years of Expertise in Reconciliation

Article 6 of 6: Unlocking the Value Payment Reconciliation in Retail

Throughout this series, we’ve explored the complexities of the Order to Cash (O2C) process, the challenges of managing reconciliation across multiple sales channels, and the crucial role that automation plays in eliminating financial leakage. In our final article, we’ll focus on how Abrantix’s two decades of experience in payment reconciliation has helped some of the world’s largest retailers achieve 100% reconciliation, eliminate leakage, and maintain financial control.

Abrantix has been a leader in the reconciliation space since 2001, with a deep focus on helping large retailers navigate the complexities of O2C. Our journey has been defined by innovation, a commitment to excellence, and a focus on addressing the real-world challenges faced by finance teams in the retail industry. In this article, we’ll explore how our expertise and technology have helped clients eliminate leakage, improve operational efficiency, and stay audit-compliant.

A Proven Track Record of Success

Over the past 20 years, Abrantix has worked with some of the largest and most complex retailers globally, helping them streamline their reconciliation processes and eliminate financial leakage. Our expertise lies in automating the reconciliation process, which has enabled our clients to move from error-prone, manual processes to highly efficient, automated workflows.

1. Achieving 100% Reconciliation for Large Retailers

Large retailers operate in a complex environment, with thousands of daily transactions, multiple sales channels, and varied payment methods. Our clients often face the challenge of reconciling aggregated payments, cross-channel sales, and international settlements—all while maintaining accuracy and compliance. Abrantix has helped our clients achieve 100% reconciliation by automating the entire O2C process.

By leveraging our automated reconciliation solution, our clients have been able to:

• Match Every Transaction: Automated reconciliation ensures that each sale is accurately matched to its corresponding payment, regardless of the complexity of the payment method or channel. This level of accuracy is crucial for eliminating discrepancies and ensuring that all revenue is accounted for.
• Reduce Manual Effort: Through automation, our clients have significantly reduced the time spent on manual reconciliation. Finance teams no longer need to match transactions using spreadsheets or investigate discrepancies manually—freeing them to focus on strategic activities that add value to the business.
• Improve Financial Accuracy: Our automated systems eliminate the risk of human error, ensuring that all transactions are recorded accurately and that there are no discrepancies that could lead to financial leakage. This level of financial accuracy has helped our clients maintain profitability and strengthen their financial controls.

2. Eliminating Financial Leakage

Financial leakage is a hidden cost that can have a significant impact on a retailer’s bottom line. Through our work with hundreds of large retailers, we’ve seen that leakage can range from 0.05% to 0.5% of turnover. Although this might seem like a small percentage, for a retailer processing $100 million in card payments annually, leakage could amount to as much as $500,000 in lost revenue.

Abrantix’s reconciliation solution is designed to eliminate leakage by ensuring 100% reconciliation of all sales and payments. By automating the reconciliation process, we help our clients identify discrepancies in real time, allowing them to address issues before they lead to financial losses. This proactive approach to managing discrepancies has enabled our clients to eliminate leakage entirely and ensure that all revenue is accounted for.

3. Driving Operational Efficiency

One of the biggest benefits of automating reconciliation is the significant increase in operational efficiency. Manual reconciliation processes are time-consuming and labor-intensive, requiring finance teams to spend countless hours matching transactions, investigating discrepancies, and managing exceptions. Abrantix’s solution has helped our clients automate these repetitive tasks, allowing them to streamline their operations and improve efficiency.

With automated reconciliation, finance teams are able to:

• Close the Books Faster: By automating the reconciliation process, our clients have been able to significantly reduce the time needed to close the books at the end of each month or financial year. A faster financial close means that financial reports are delivered in a timely manner, enabling better decision-making and agility.
• Focus on Strategic Activities: Instead of spending time on repetitive reconciliation tasks, finance teams can focus on more strategic activities, such as financial analysis, planning, and forecasting. This shift from manual to strategic work has allowed our clients to derive more value from their finance teams and contribute to the overall success of the business.
• Efficiently Manage Exceptions: Automated exception management tools allow our clients to identify, categorize, and resolve discrepancies quickly. This means that exceptions are addressed promptly, reducing the risk of unresolved discrepancies leading to leakage.

4. Ensuring Audit Compliance

Audit compliance is a critical aspect of financial management for large retailers. Inaccurate reconciliation can lead to discrepancies in financial records, increasing the risk of audit findings and potential penalties. Abrantix’s automated reconciliation solution provides a comprehensive audit trail for every transaction, ensuring that all sales and payments are fully documented and traceable.

With our solution, retailers can:

• Provide a Clear Audit Trail: Our automated reconciliation system provides a complete record of every transaction, making it easy for auditors to verify the accuracy of financial records. This reduces the risk of audit findings and ensures compliance with financial regulations.
• Reduce Audit Costs: By ensuring that all transactions are accurately reconciled, our clients have been able to reduce the time and cost associated with audits. Auditors can quickly verify records, reducing the need for extensive investigations into discrepancies.

The Abrantix Advantage: Why Choose Us

Abrantix has been at the forefront of payment reconciliation since 2001, with a commitment to helping large retailers overcome the challenges of the O2C process. Our deep expertise in automated reconciliation, combined with our focus on innovation and client success, sets us apart from other providers in the industry.

Key reasons to choose Abrantix for your reconciliation needs:

• 20 Years of Experience: With two decades of experience in the industry, we understand the unique challenges faced by large retailers and have the expertise to deliver solutions that work.
• A Proven Track Record: We’ve helped some of the world’s largest and most complex retailers achieve perfect reconciliation, eliminate financial leakage, and maintain audit compliance.
• Cutting-Edge Technology: Our automated reconciliation solution leverages the latest technology to provide real-time matching, seamless integration, and efficient exception management, ensuring that all transactions are reconciled accurately and efficiently.
• Client-Centric Approach: At Abrantix, our clients are at the heart of everything we do. We work closely with our clients to understand their specific needs and tailor our solutions to meet their unique requirements.

Conclusion: Strengthening Financial Controls with Abrantix

The Order to Cash process is one of the most critical aspects of managing a retail business, and ensuring that all transactions are accurately reconciled is essential for maintaining profitability, compliance, and financial control. Over the past 20 years, Abrantix has helped some of the world’s largest retailers achieve 100% reconciliation, eliminate financial leakage, and streamline their financial operations through automation.

As we conclude this series, we invite you to explore how Abrantix’s expertise and technology can help your business achieve perfect reconciliation, improve operational efficiency, and protect your bottom line. Contact us today to learn more about our solutions and how we can help you take your reconciliation process to the next level.