A global manufacturer’s journey to smooth automated payment reconciliation and 100% clearing rates
Business need
Business need
Challenge: Manual processes and limited transparency in PSP reconciliation
A leading global manufacturer of premium household appliances faced growing challenges in reconciling payments across multiple Payment Service Providers (PSPs).
Their legacy reconciliation process involved extensive manual work to create clearing data and transfer files. On top of this, rising transaction volumes and limited visibility into PSP activity increased complexity and risked errors, slowing down financial close cycles.
Solution implemented
Solution implemented
The transformation journey: Full automation within the SAP environment
The company set clear goals to completely remove manual intervention and automate 100% of clearing transactions. This would improve accuracy and transparency in the reconciliation process, enable efficient data flow from PSP reporting without manual handling, and reduce manual workloads to allow reallocation of finance resources to more strategic tasks.
The company’s own roadmap required it to do this using an SAP-certified solution to support comprehensive provider coverage and extend and enhance existing technology investments. Improve accuracy and transparency throughout the reconciliation process
Why Serrala? Certified integration and proven automation successes
The business chose to partner with Serrala as a certified SAP integration partner with guarantees of reliable system connectivity. Our broad PSP coverage and fully automated reconciliation process further made our FS² AutoBank solution a perfect fit for their requirements—as did our proven track record of providing high automation rates and eliminating manual effort across finance teams.
Results achieved
Results achieved
Results: Significant gains in efficiency and accuracy
Following implementation, the company achieved all of the goals it set out to in its original project scope:
- 100% automation of PSP clearing transactions
- Straight-through processing that removed the need for manual file transfers
- Substantial reduction in manual workloads
- Enhanced accuracy and transparency, speeding up financial closing
- Improved operational control with reduced risk of reconciliation errors
The company’s teams have also been able to adopt a suite of best practices to monitor and control their reconciliation processes and PSP fees for accuracy, control, and continuous improvement. With the help of full visibility of all clearing transactions and reconciliations in SAP, they’re able to monitor import processes to prevent duplicate entries. They’ve established straightforward worklows that spot errors early. And even improved their capacity to communicate changes to payment workflows clearly as task loads change across the finance team, leaving staff better prepared to adapt to new responsibilities and processes.
With Serrala’s PSP Reconciliation solution, the company has transformed its payment reconciliation from a manual, fragmented process into an automated, integrated workflow. This has resulted in higher efficiency, greater accuracy, and a scalable foundation for future growth and automation.
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