Building merchant company selects new account reconciliation solution provider to increase financial flexibility and improve efficiency.
Adra, the leading supplier of automated financial account reconciliation software, has been awarded a contract by Jewson, the leading supplier of timber and building products to the trade and general public, to streamline its account reconciliation process. Adra ACCOUNTS will support the reconciliation department to handle over 1.6 million yearly transactions for Jewson and other affiliate companies of the Saint– Gobain Building Distribution Group.
In today’s tough economy it is essential for organizations to take control of their cash management and financial accounts to increase financial control and reduce operational risk. By automating the reconciliation process, Adra ACCOUNTS increases the speed of reconciliation drastically, improves accuracy, speeds up exception identification and provides financial control enhancements to the business, this enables users to feel confident that reconciliation is 100 per cent correct.
Adra ACCOUNTS controls the reconciliation process and provides real-time visibility into it’s progress. Designed to support Jewson’s needs through flexible and configurable business rules and ease of use, Adra ACCOUNTS is scalable to millions of transactions per day , and Jewson’s have seen a quick return on investment by automating a lengthy and time consuming process.
Although Jewson’s were already using a simple reconciliation tool, it was felt that too much time was being spent on reconciling transactions manually, as their old system was not flexible enough to handle the complex requirements for data matching.
“We have been using a simple reconciliation tool to handle our large volume of transactions but after investigating the market, we felt we could get extra support and further cost savings with Adra ACCOUNTS “ said Janet Knight, Chief Cashier, Jewson.
Situation: Jewson’s requirement was to gain extra control and further cost savings by auto-mating the reconciliation process within The Finance Team. Solution: Adra delivered it’s fully automated reconciliation tool ‘Adra ACCOUNTS ’ Benefits: With the fast and easy implementation, Jewson were able to benefit immediately by Using Adra ACCOUNTS . Training was quick and simple to understand and users were able to utilize the software within hours. The Reconciliation team were able to use their time far more efficiently, and were able to complete the reconciliation process in a far more timely manner. Over 1.6 million transactions are now matched automatically. The complex rules for data matching that were required by Jewson were addressed by the flexibility of Adra ACCOUNTS .