Case Studies

Learn about our customer success stories. Our software is helping organizations of all sizes gain efficiency, transparency and accountability in their reconciliation and financial close processes.

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Premier Credit – Customer Success Story

“ReconArt™ gives us faith in the financial numbers we report by delivering accuracy, reduced operational risk and a fully audit-able environment.”

The company:

Premier Credit Limited is a microfinance company established in 2013 to provide credit only financial solutions to small and microfinance entrepreneurs in East Africa. Established by industry veterans with over fifteen years’ experience, Premier launched initially in Kenya. The company’s successful growth is now seeing it expand operations into Uganda and Tanzania and Premier Credit now encompasses three different entities

Challenges:

Within the first year of its existence, Premier Credit gained over 17,000 clients in Kenya alone. It services them with 350 staff spread across twenty-two branches. With each client making a payment on

Industry and Topics Referenced by this article: Finance

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University of Auckland – Customer Success Story

“ReconArt™ offered the greatest flexibility around being able to design the system to meet our specific requirements”

Profile:

The University of Auckland, founded in 1883, is the largest University in New Zealand with eight faculties over six campuses and over 40,000 students.

It has turnover now exceeding $1 billion per annum, with net assets of $1.5 billion and growing.

Challenge:

The University of Auckland has a decentralised finance function. Its policy is to have all balance sheet accounts reconciled by cost centre and reviewed within the individual business units on a monthly basis, with a second review performed by the Central Finance team at the end of each quarter. This leads to over 2,500 individual reconciliations that have to be completed each month.

Industry and Topics Referenced by this article: Education

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Think Money Group – Customer Success Story

“The increased visibility is invaluable. We have never enjoyed such a centralised overview of our bank data.”

Company Profile:

Think Money Group is an innovative financial services business based in Trafford Park in Manchester, England. Established in 1993, today the Group employs over 1,000 staff and is comprised of four business areas:

  • Personal accounts through thinkmoney;
  • Ocean brand offering mortgages, loans and credit cards;
  • Think Insure which provides car, home, gadget and life insurance;
  • Debt advice and debt solutions via the Gregory Pennington, Freeman Jones, Wilson Andrews and Think2Claim brands.

The debt advi

Industry and Topics Referenced by this article: Finance

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First National Bankers Bank – Customer Success Story

“After we saw ReconArt’s proof-of-concept demonstration we thought it was a great system; we were impressed with what we saw.”

Company Profile:

First National Bankers Bank (FNBB), headquartered in Baton Rouge, Louisiana, was chartered as the first national Bankers Bank in the United States in 1984. It is, in essence, a bank set up by, and for the purpose of providing services to, community banks.   FNBB commenced operations with 28 shareholder institutions of its bank-owned cooperative to provide correspondent banking services to its members. This prepared the way for the phenomenal growth that FNBB would experience over the next two decades. Today, with assets of approximately $1 billion, FNBB delivers banking services to over 700 community banks throughout the Southeast of the country.

Industry and Topics Referenced by this article: Banking

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Fiesta Insurance – Customer Success Story

“ReconArt ™ offered excellent value and immediate return on investment”

Company Profile:

Fiesta Insurance Franchise Corporation began as an independent insurance agency in Southern California in 1999. Today Fiesta operates 125 franchise storefronts that provide insurance and tax preparation services mainly to Hispanic communities within the United States. With its largest base still in California, Fiesta also has franchisees in other states with significant Hispanic populations including Florida, Texas and New York.

Challenges:

Fiesta was performing all bank account reconciliations

Industry and Topics Referenced by this article: Insurance

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Teespring – Customer Success Story

“From manual to automated payments reconciliations in just two weeks with ReconArt ™”

Profile:

Teespring, headquartered in San Francisco, California, is a platform that makes it easy for anyone to create and sell high-quality products people love, with no cost or risk. According to founders Walker Williams and Evan Stites-Clayton, the inspiration for Teespring came in the spring of 2011 when the two wanted to sell t-shirts to commemorate the closing of a local bar. Rather than investing in a bulk order of shirts in various sizes, the Brown University seniors created a website where interested parties could submit pre-orders with their size and payment.

Challenge:

Teespring’s eCommerce platform

Industry and Topics Referenced by this article: eCommerce & Retail

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Titan Distributors – Customer Success Story

“The annual cost of ReconArt ™ is well under ten percent of what it would cost in labor”

 

Company Profile:

Titan Distributors is an almost exclusively internet-based eCommerce distributor based in Collierville, Tennessee in the United States. The company sells various products across several websites as well as eBay, Amazon, and other third party marketplaces. This highly successful company has been experiencing an annual growth rate of over 60% for the past several years.

Challenge:

Prior to implementing ReconArt™ Titan had very little ability to do a full reconciliation of its payment accounts. With hundreds, growing to thousands, of daily transactions acros

Industry and Topics Referenced by this article: eCommerce & Retail

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New South Wales Treasury Corporation – Customer Success Story

ReconArt™ has delivered significant time savings along with risk reductions. It paid for itself almost immediately.

 

Company Profile:

Located in Sydney, New South Wales Treasury Corporation (known as TCorp) is the central borrowing authority for the State of New South Wales in Australia. TCorp is also a manager of clients’ asset and liability portfolios, providing financial risk management and investment management services to the NSW Government and its constituent businesses. TCorp funds its lending through the issuance of bonds in the constantly evolving debt capital markets. Since 1988, TCorp has been an active participant in domestic and international markets.

Challenge:

TCorp was spending time extracting infor

Industry and Topics Referenced by this article: Government

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Audubon Engineering – Customer Success Story

“Today we operate more efficiently and accurately with ReconArt ™, and have reduced the time it took to complete reconciliations.”

 

Company Profile:

Audubon Engineering was founded in 1997 as a multi‐discipline engineering company serving the Oil & Gas and Petrochemical industries. Today Audubon is comprised of four affiliates, which include Audubon Engineering, Audubon Field Services, Cimation, and Affinity. It has multiple offices across the United States and in Canada and Columbia.

Challenge:

A major pain point for Audubon was the time–consuming manual performance of reconciliation processes. The company needed to get cash reconciliations completed quickly and effectively so that it could finalize financial close in unde

Industry and Topics Referenced by this article: Engineering

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