Smart & Final Installs New Solution to Streamline Financial Data Processes
LOS ANGELES -- Non-membership wholesale club Smart & Final Inc. yesterday launched new software to automate the verification and reconciliation of its cash banking and credit card transactions and provide electronic bank data delivery.
The software includes the ReconNET and the DataFlow Transaction Network tools from transaction reconciliation and payment infrastructure solutions provider Addison, Texas-based Trintech Funds Management Systems. "We were using a homegrown automated reconciliation solution that still required significant manual effort," said Wayne Geffen, v.p. and controller for Smart & Final. "It also wasn't compatible with our new general ledger system. It was time for us to find a fully automated and scaleable solution -- one that can handle our present needs while providing functionality such as gift card and NSF reconciliation that can be adopted in the future."
ReconNET was developed to help retailers streamline their cash management processes, and provide effective risk management and reporting across all its stores. The DataFlow Transaction Network provides standardized, validated daily electronic bank data for the company's regional banks.
Smart & Final operates more than 250 nonmembership warehouse stores for food and foodservice supplies in California, Oregon, Washington, Arizona, Nevada, Idaho, and northwestern Mexico.
The software includes the ReconNET and the DataFlow Transaction Network tools from transaction reconciliation and payment infrastructure solutions provider Addison, Texas-based Trintech Funds Management Systems. "We were using a homegrown automated reconciliation solution that still required significant manual effort," said Wayne Geffen, v.p. and controller for Smart & Final. "It also wasn't compatible with our new general ledger system. It was time for us to find a fully automated and scaleable solution -- one that can handle our present needs while providing functionality such as gift card and NSF reconciliation that can be adopted in the future."
ReconNET was developed to help retailers streamline their cash management processes, and provide effective risk management and reporting across all its stores. The DataFlow Transaction Network provides standardized, validated daily electronic bank data for the company's regional banks.
Smart & Final operates more than 250 nonmembership warehouse stores for food and foodservice supplies in California, Oregon, Washington, Arizona, Nevada, Idaho, and northwestern Mexico.