POS, Merchant & Gateway Recs
- Automate data feeds from a variety of sources
- Normalize external data to reflect internal record formatting
- Empower teams with a fully business-led solution
- Easily reconcile chargebacks and returns
Overview and Purpose: Reconciling Point of Sale (POS), Merchant, or Gateway data brings surety that the business’ internal records conform to what is being recorded by the POS, Merchant, or Gateway system. In addition to ensuring that internal records are correct, these reconciliations also ensure that customer orders and payments are recorded correctly.
- Businesses may utilize multiple systems to process sales from different locations – for example physical locations versus online sales. When these systems each use their own data format, reconciling the different sources together can prove exceedingly challenging.
- External data sources may require manual acquisition by the business, or receipt of external data files will need to be managed by the business.
- The organization of POS, Merchant, or Gateway files may differ significantly from the way internal data is organized, adding significant complexity to the reconciliation process.
- Businesses performing international sales may have difficulty verifying information such as exchange rates, VAT, and other elements exclusive to foreign transactions.
- Generating reports to be delivered downstream (for example, chargeback reports), can be challenging and time-consuming.
- ReconArt accepts a rich variety of file formats, and includes the functionality to manipulate and normalize data source records. External data can be enriched to mirror internal records, and multiple external data sources can be reconciled together against internal data.
- ReconArt allows for automation of data imports, allowing the business to take a hands-off approach regarding the receipt of their data files, decreasing resources used to manage file transmission.
- ReconArt allows users to organize and configure their reconciliation accounts with whatever granularity required. Multiple files may feed a single reconciliation, or data records from one file may be sorted into several different reconciliation accounts. This flexibility ensures that each reconciliation meets the exact specifications of the business.
- ReconArt includes functionality which enables business users to automatically enrich data based on a variety of factors, including exchange rate, country of origin, and source currency. Users can also automatically update transactions based on these details, without any manual intervention (for example, automatically updating foreign transactions with the relevant USD amount when it is not included in the data).
- ReconArt can easily and automatically generate reports based on defined logic, and automatically send them to relevant internal or external parties.