Online gaming has been increasing in popularity with millions of players engaging in their favorite games and even earning real money. With a set up of many-to-many payment flow, the online gaming companies face challenges related to reconciling transactions across multiple payment gateways with bank feeds and internal order management systems (usually internal sources of truth). And, eventually the financial details have to be docked into a bookkeeping system.
Needless to say, reconciling data from disparate data sources manually is a labor-intensive process. The approach requires fetching data from different sources which provide data in different formats. A lot of time gets lost in reformatting the data sets before any kind of analysis can be done. Moreover, payment intermediaries settle data into bank accounts through batch processing. This necessitates that the data should be disaggregated at transaction level before data can be reconciled with cash settlement. These steps have to be done for both the settlement and payout sides.
An inefficient reconciliation process can lead to a lot of issues like lack of tracking, reporting, and monitoring. These issues usually lead to business impacts like revenue leakage, overpayments and auditing challenges.
Kosh.ai streamlines reconciliation processes by holistically automating all the steps like fetching, reformating, and reconciling data. The Kosh platform auto reconciles each and every transaction level ensuring very fine granularity. Consequently, the platform is also able to automate downstream processes like tracking, monitoring, and reporting by providing rich analytics. The platform thus helps not only in controlling revenue leakage, overpayments and auditing challenges but can also help track fraudulent transactions. Finally, the platform closes the loop by docking the details in an accounting or bookkeeping system. The platform can integrate with the existing IT infrastructure of a company.
By automating every process, Kosh.ai significantly reduces man hours. It can cut cycle time by 99% and cost by 65% while ensuring 100% accuracy.
