How aCommerce streamlined their financial reconciliation

About aCommerce

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.

The Problem

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.

We have a large data warehouse at aCommerce. However, due to manual reconciliation across accounting to order management systems, we faced data fluctuations which were making business decisions difficult.

The Solution

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.

Recko has helped us in making our finance team more accountable and enable them to find solutions, with a better tool at hand to detect matters and resolve them.