Reconciliation for eCommerce: Experience
Summary
Sensible merchants foresee customer needs and complement their product offers with a number of enticing collateral services – from seasonal discounts, gift cards, trial periods and free returns, to flexible payment options and stripped shipping costs. From merchants’ standing point, the rising complexity of the retail ecosystem exacts robust internal accounting controls to stay on top of cash flows, even more so as the majority of transactions take place in a digital environment. While comparing amount totals, important details fall through the cracks and the root cause for the mismatch (which could range from time lags to fraud attempts) is not properly investigated. Configurable cross-sections of bulk sums display and arbitrate currency exchange differences and acquirer charges (payment processor generated) at both cash and transaction levels. In ReconArt, all that occurs in a single database with individual user accounts, simple browser access and granular audit trail, instead of scattered in numerous documents and repositories with doubtful compliance value.
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