Payment Gateway & Orders Reconciliation

FINNOPS.AI presents a comprehensive solution to the challenges of reconciling transactions across multiple payment gateways. This case study outlines the key issues and solutions in streamlining financial operations.Challenges

• Data Fragmentation and Payment Diversity: Inconsistent data formats and timing discrepancies across POS, gateways, and banks.
• Complex Fee Structures: Diverse fee models complicate reconciliation.
• Currency Conversion Issues: Fluctuating exchange rates lead to discrepancies.
• High Transaction Volumes: The sheer volume of transactions makes manual reconciliation impractical.

Solution

• AI-Powered Matching: Advanced algorithms automatically match transactions, improving accuracy and reducing errors.
• Unified Data Platform: Consolidates data from various payment gateways into a single platform.
• Customization: Configurable rules accommodate diverse fee models using plain English instructions.
• Timing Adjustments: Corrects for accrual and deferral mismatches, ensuring accurate reporting.
• Profitability Insights: Real-time reports on gross margins and net profits enhance decision-making.

Key Takeaways

• 95% Time Reduction: Reconciliation process shortened from days to hours.
• 97% Accuracy Rate: High accuracy in transaction matching and discrepancy identification.
• 100% Audit Compliance: Ensures full regulatory compliance with a complete audit trail.
• Increased Efficiency: Automation allows finance teams to focus on high-value tasks.