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How to solve the complexity of payment reconciliation for e-commerce?

Contexte

Companies in the E-commerce, Merchant, MarketPlace, PSP sectors are all caught up and confronted with this harsh reality:

“How to effectively process and control incoming and outgoing payment flows?”

Especially when these represent increasingly large volumes with a growing disparity between MarketPlace, PSP and online store platforms.

E-commerce Payment Reconciliation Process: The 4 Main Points to Follow

Accounting management can be very complex when sales volumes in e-commerce are significant.

Teams must:

Process and reconcile all transaction logs from different service providers, most of which are in different formats.
Control overall PSP payments to the bank with actual transactions.
Justify your service providers’ commission amounts.
Quickly identify types of transaction discrepancies to effectively manage returns and unpaid invoices, etc.

Why is automated payment reconciliation essential for e-commerce?

Some merchants still use manual reconciliation, which consists of tracking incoming and outgoing payments using EXCEL spreadsheets. The observation is unanimous: these practices are time-consuming, tedious and have little added value. In addition to the risk of errors that can lead to dramatic end-of-year audit controls. Automating reconciliations is a necessity to save time and secure processing. Centralization and standardization are the keys to managing the diversity of e-commerce platforms.

What is the key to meeting your challenges and mastering strong growth for e-commerce?

Centralization and standardization of your reconciliations

Your back-office and accounting teams must have the means to work efficiently without having to manipulate different files to obtain the desired level of information or having to connect to different platforms to retrieve data.

CALIXYS is a single platform that automates, centralizes and standardizes all reconciliations between your different service providers and banks.

The level of organization of the CALIXYS platform allows you to quickly configure reconciliations between your MarketPlace, your stores, your PSPs and the banks.

The centralization and standardization of financial data provides your accounting teams with increased visibility and rapid analysis capacity.

Indeed, all information from the source files is imported and standardized automatically.

The matching rules are configurable and adaptable to each case.

The identification and classification of discrepancies becomes simple, your teams have all the necessary information in a single platform and can quickly have an inventory of transactions.

Organization and management become clearer and more fluid regardless of the MarketPlace, store or PSP used. This way your teams can focus on the essentials.

In addition, in terms of auditing, you can keep the details of all your transactions over several years.

Adaptability

The CALIXYS platform supports you in your growth with a significant capacity for adaptation.

Do you want to conquer new markets, diversify payment methods with PSPs, manage several points of sale at the same time, associate your online activity with marketplaces?

Nothing could be simpler with the CALIXYS solution, you can add your new partners to your existing configurations, and you have industrialization functions to quickly duplicate the same reconciliation model.

You no longer depend on the models imposed on you but you streamline your reconciliation processes in a single solution and give your teams the means to exploit and analyze reliable data.

The difference between the CALIXYS platform and other e-commerce reconciliation tools

Unlike the tools on the market, CALIXYS offers you a complete platform with powerful features that allow end-to-end reconciliation automation. The platform also allows multi-party reconciliation with multiple data sources, ensuring control of your transactions throughout the processing chain regardless of the number of sources:

Multi-format data import module with dynamic transcription of information
Matching engine with 100% configurable rules
Integrated scheduler to automate processing chains
Exception management module to identify, assign, classify and track all discrepancies.

With an integration and matching power of more than 1 million transactions per minute, the CALIXYS platform is fully adapted to the e-commerce sector and its constraints.

> Learn more about our innovative approaches for the E-commerce and Retail sector

If you have any questions regarding the migration process from manual to automatic payment reconciliation or if you would like to learn more about our CALIXYS platform, please do not hesitate to contact us.

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