Unlocking Savings: How Automating Cash Reconciliation Pays Dividends

Unlocking Savings: How Automating Cash Reconciliation Pays Dividends

In the bustling realm of retail, where every penny counts and efficiency reigns supreme, the back office is often the unsung hero. Behind the scenes, back-office associates diligently manage a myriad of tasks from cash handling to reconciliation, ensuring the smooth operation of the entire retail ecosystem.

Imagine a 120-store retailer grappling with the monumental challenge of managing cash across numerous locations. Traditionally, this would entail labor-intensive processes, including physical cash counting and manual data entry, devouring valuable time and resources. Not to mention, creating and enforcing a consistent process that provides enterprise visibility is often challenging. However, in our modern era, innovation comes to the rescue in the form of cash automation.

Enter the hero of our story:

The retailer armed with cash automation solutions, poised to transform their back-office operations. But hold on, it’s not merely about deploying cash recyclers. There’s a pivotal piece missing from the puzzle – automated reconciliation and seamless data flow integration. With just a cash recycler and no other reconciliation tools, that valuable back-office associate is still spending each evening manually entering data into a spreadsheet and comparing it between the recycler and the point of sale. The cost of labor remains largely the same.

Let’s delve into the narrative further. Our retailer partners with Evention Total Recon, an enterprise payment reconciliation solution tailored for cash and credit card transactions. With a wealth of experience spanning two decades and serving global brands, Evention Total Recon is the beacon guiding our hero towards operational excellence and exponential cost savings.

By joining forces with Evention Total Recon…

Our retailer embarks on a journey towards unparalleled efficiency and cost optimization. The first part of the journey is to connect the retailer’s entire payment ecosystem, historically a disjointed and bumpy path but now smooth and easy to navigate.

The next step to automated reconciliation processes is spotting discrepancies between those devices and applications quickly. Beyond the summary level, Evention Total Recon displays transaction level visibility, saving hours of time on reconciliation.

Now our retailer can allocate resources strategically, focusing on analytical endeavors that drive growth and innovation. This change saves the enterprise millions of dollars, while motivating a workforce, who recognizes their greater contribution.

See the Annual Savings

Full-time Salary for a Back-office Associate: $45,000

Total number of Stores: 120

Potential Enterprise Savings: $5,400,000

The tale of our 120-store retailer underscores the transformative power of cash automation coupled with robust reconciliation solutions. As the retail landscape continues to evolve, embracing technological advancements becomes not just a choice but a necessity for those striving to thrive in a competitive environment. With Evention Total Recon paving the way, the future of retail back-office operations shines brighter than ever before.

About Evention Total Recon

Evention Total Recon is an enterprise payment reconciliation solution for cash and credit card. With transaction level visibility in just minutes, Total Recon’s automated reconciliation saves retailers like you countless hours and safeguards your revenue.  

Backed by 20 years of reconciliation expertise serving some of the world’s largest brands, Evention Total Recon facilitates connection between your unique payment ecosystem from store transactions to enterprise level to bank. For complete payment reconciliation in minutes, choose Evention. 

Choosing the Right Solution

If you’re interested in transitioning to an automated solution, we invite you to consider Total Recon, our automated, cloud-based solution that allows for easy customization so you can streamline operations and balance your day with automation. Schedule a free demo today to see the benefits of Total Recon in action, and download our free eBook — Your Complete Guide to a Better Cash & Credit Card Reconciliation Process — to learn even more.