Achieving an 83% Reduction in Reconciliation Time by Automating High-Volume Transaction Processes with SmartConcil
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With over 10,000 transactions processed daily, reconciling every single transaction manually in a casino chain can quickly become an accounting nightmare. This case study explains how SmartConcil helped our client to optimize their reconciliation process, saving thousands of dollars on operational costs and transactional errors.

The Challenge

A leading casino chain from Mexico with more than 20faced the challenge of manually reconciling transactions from each establishment. This process consumed an average of 3 hours per day and was susceptible to errors due to the large volume of data and spreadsheet dispersion. Additionally, they needed a solution that could:

  • Automate reconciliation.
  • Consolidate financial information from all branches in one place.
  • Streamline the process to quickly identify inconsistencies and missing/incorrect transactions.
  • Easily integrate new sources of information as the business grew.

The Solution

The chain implemented SmartConcil, an automated reconciliation platform. SmartConcil integrates with existing systems and automates the following tasks:

  • Data Import: Collects information from all establishments and systems.
  • Data Classification: Analyzes transactions using rule-based algorithms to categorize them (credit, debit, cash, etc.).
  • Transaction Labeling: Labels transactions for specific reconciliation processes or discards irrelevant ones.
  • Matching Process: SmartConcil automatically compares transactions from different sources, including transactional and bank reconciliation.
The Benefits
83%
Reduction in reconciliation time
Reconciliation time decreased significantly from 3 hours daily to just 30 minutes, thanks to overnight automation.
100%
Traceability
The platform generates an audit trail showing exactly what was done, who did it, and when.
100%
Enhanced Accuracy
SmartConcil minimizes human errors in data handling.
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