Transaction Matching
Background: Brompton is a bicycle manufacturer based in London with a significant online presence. They use an ecommerce platform for their B2C website, Adyen for payments, and Infor as their ERP system, which holds invoicing information.
Challenges: Brompton was struggling with reconciling the financial data from these three systems. They had attempted to use Excel and SQL to reconcile the data, but the many-to-many relationships and large volume of transactions made this process time-consuming and prone to errors.
Solution: Brompton implemented Blackline, a financial automation tool with a transaction matching product specifically designed to automate the reconciliation of multiple data sets.
Results: After implementing Blackline, Brompton was able to reconcile huge amounts of data within seconds, rather than the days it had taken previously. The process was also much more accurate, as the automation eliminated the risk of human error. Blackline's customised reports allowed Brompton to feed reconciled data back into their ERP system, automating the payment creation and allocation process and saving even more time. Overall, the implementation of Blackline's transaction matching product at Brompton was a resounding success, significantly reducing the amount of manual work required and increasing accuracy and clarity in their financial processes.
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