As retailers expand into mid-market and beyond, the manual reconciliation of payments becomes increasingly complex and costly. Automated reconciliation provides a single, accurate view of transactions the next morning, empowering quicker decision-making and problem resolution. This eradicates the typical 1 to 3% margin of error associated with manual reconciliation. From various payment methods to intricate VAS scenarios, automation ensures accurate reconciliation and facilitates seamless settlement instructions with banks. With robust data governance and compliance measures in place, automated reconciliation emerges as a strategic imperative for retailers aiming to thrive in an increasingly digitized marketplace.

Source: The North Africa Journal February 26, 2024 12:47 UTC