Case Study: Leading Retail Organization gains financial close visibility and efficiency with Trintech ReconNET

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

Leading Retail Organization, a fast-growing business with about 2,000 stores and more than $2bn in turnover, was struggling with a manual, fragmented, Excel-based reconciliation process that became even more difficult as it expanded internationally. The complexity created month-end close bottlenecks, heavy overtime, and inconsistent processes across teams. Leading Retail Organization turned to Trintech and its ReconNET solution to bring automation and standardization to financial reconciliation.

Trintech implemented ReconNET to automate high-volume reconciliations and exception handling across pensions, legacy store banking, and Oracle bank reconciliations. The results included auto-match rates of 96%, 84%, and 99% in key areas, a reduction in one reconciliation cycle from 5 days to half a day, and an estimated 2 FTE headcount avoidance. Trintech also helped the company reduce overtime, improve visibility into the close, and increase staff capacity for higher-value work.