Case Study: Finance Operations of a Multinational Retail Store Company

It is extremely challenging to manage finance operations and payment reconciliation of a geographically distributed retail operations.  The complexity around such operations is quite multi-faceted. The problem gets further compounded because of the burgeoning payment options like wallets, cards (credit/debit), cash and others.  Also, a finance team will have to reconcile data from multiple sources coming at different time frequencies. For instance, cash settlements are done manually and usually take one day on weekdays.  However, that duration can stretch to two or three days on weekends.  Similarly, settlements from other payment routes occur at different frequencies, thus further complicating an already challenging situation.  Moreover, if a company has operations in multiple countries, then managing settlements in different currencies adds another layer of complexity.

A multinational retail store company was facing the challenges mentioned above. The company has roughly 1500 stores across several countries in Asia.  The company receives payment in multiple modes and currencies.  Because of the complexity in operations, it was finding it hard to reconcile settlements against sales orders with complete accuracy at a very granular level.

Kosh streamlined not only the payment reconciliation but also the finance operations and a little bit of treasury operations.  Using Kosh, the company was able to centralize all of its finance operations across different geographies, stores, and currencies.  Moreover, the product centralized finance operations across different business verticals, allowing the finance team to get visibility into operations at one product.  The product automated the payment reconciliation at each order level with a very high level of granularity.

With Kosh, the finance operations team was able to increase the efficiency almost by 99% while assuring 100% accuracy.

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