- Before ReckoAfter Recko
- Less structured reconciliation process between internal and external systems due to the massive volume of transactions involved.Weekly automated reconciliation which is scalable for e-commerce volumes
- Excel based reconciliations only provided a limited level of comfort.An ability to pinpoint exact issues and escalate for investigation
- Significant resource required for timely identification of data discrepanciesStreamlined finance-tech collaboration to address matters arising
How aCommerce streamlined their financial reconciliation
Recko has enabled us to identify data issues more efficiently and use the resources we have to stay on our growth trajectory in a systematic way. The Recko team has been supportive every step of the way and has gone the distance in assuring us about the accuracy of reconciliations and efficiency in processes.
Regional Finance Director
aCommerce is a unified e-commerce management platform that is the online partner of choice to brands that operate in Southeast Asia. aCommerce helps 160+ brands across 5 countries manage all aspects of their e-commerce business through their omnichannel selling capabilities and channel management. Their proprietary EcommerceIQ software strengthens, connects, and unifies all e-commerce data for 4.7 million products under one end-to-end cloud platform.
aCommerce is the largest e-commerce enabler in Southeast Asia, enabling brands to manage products and inventory, process orders and payments, fulfil and ship orders, analyze consumer data, and leverage analytics and reporting. The organization sells goods as well as offers services to e-commerce companies, which results in a significant amount of data generated from in-house systems as well as third-party systems. Because of the manual nature of reconciliation, it was difficult for finance team to identify any data discrepancies in a timely manner.
Hence, aCommerce began considering building an in-house reconciliation tool. However, this task would have required a significant investment of existing resources and staff attention, and building a tool would have delayed timelines. Accordingly, aCommerce then partnered with Recko to establish a reconciliation process.
With Recko, aCommerce was able to set in motion a system that could manage their high volume and complex payment flows. Recko set up a process to reconcile data at a transaction level by setting up 2-point reconciliation between the data warehouse and aCommerce’s ERP system. While the data repository was handled by Recko, the aCommerce administration and data warehouse teams ensured a secure setup for data sharing.
Data flows in through secure integrations from multiple locations where aCommerce operates, and post reconciliation, is presented on intuitive dashboards for internal review.
With a transactional-level view of data, the finance teams are able to identify any issues and escalate within the organisation for resolution as soon as possible. With a well-organized reconciliation process, aCommerce is able to find the mismatch in data much quicker than earlier and investigate.
Additionally, aCommerce has also witnessed an increase in staff satisfaction through providing the new tools and empowering the finance teams to seek solutions for matters arising.
- Establish a streamlined source-of-truth for financial data reconciliation across order management, inventory, transactions, and accounting systems.
- Build trust and credibility for the financial data ecosystem in the organisation, thereby enabling the finance team to become a growth driver.
- Brought clarity into their financial operations and impacted it positively.