Whether your store is physical or online, optimal management of your payment reconciliations is essential to your success!
In this article, the CALIXYS team will answer all your questions about e-commerce payment reconciliation: What is multi-way e-commerce payment reconciliation? What are the direct benefits of this approach? Here’s everything you need to know.
Payment reconciliation is a process that enables you to ensure that the transactions recorded on your bank statements match those of your Payments Gateway providers, such as marketplaces and PSPs.
Regular payment reconciliations are recommended to quickly detect fraud and errors of any kind. Detailed ledgers with a reliable database give financial decision-makers optimum visibility of their overall cash position at all times.
Managing payment reconciliation is often complex, time-consuming and risky. What’s more, it’s not always easy to track and understand the details of the cost of each incoming and outgoing payment with the various service providers: the breakdown by transaction, product fees, service provider fees and commission fees for each transition. If you need to manage several points of sale in several countries, this can quickly become quite complicated.
But even so, few merchants have a comprehensive and robust payment control system for their ecommerce business.
Multi-way reconciliation of e-commerce payments is an innovative feature in CALIXYS’ XREC solution, dedicated to the e-commerce industry.
Thanks to this feature, your financial and operational teams can centralize all data from different providers in a single solution and reconcile transactional flows between your back-office and several payment gateway points: Marketplace – PSP – Banks.
This functionality is ideal for reconciling payment data between multiple points of sale in different geographical areas. It adapts to high volumes and multiple configurations.
XREC is a global automated reconciliation solution. It’s a user-friendly solution for all your transaction reconciliations, and that’s why it’s so popular with industry leaders!
Accounting management in the e-commerce sector is often difficult because of the large sales volumes involved. Thanks to our knowledge of the challenges and over 20 years of experience, we’ve designed this solution to meet the requirements of companies for simplifying, automating and harmonizing reconciliation processes.
Here are some innovative features to facilitate your reconciliation processes:
Multi-way reconciliation of e-commerce payments is one of the many features of the XREC solution!
Our XREC solution is a powerful, high-performance and intuitive solution for all your reconciliation needs. It’s a must-have for boosting the productivity of your back-office!
Here are just a few types of reconciliation dedicated to the e-commerce industry:
Make sure your bank statements match your accounting transactions! With XREC, you can automate your bank reconciliations and always get a clear picture of your cash position.
Find out more about our innovative method for bank reconciliations
Strengthen your financial control and automate your end-to-end accounting reconciliation and lettering to simplify your daily processes and gain greater visibility over all your accounts.
Card and transfer payment volumes are constantly growing! Thanks to end-to-end reconciliation automation, companies can control current payments and detect erroneous reconciliations, whether it is for a local requirement or for distribution across several countries
Ensure that financial data is consistent across multiple business applications. Reduce operational risk and manage discrepancies with centralized, automated control of transactions between different systems thanks to XREC solution
Take advantage of our XREC all-in-one back-office productivity solution from Calixys, which enables automated management of all your payment reconciliations in your back-office, online stores, marketplaces and payment service providers.
Free your teams from manual tasks and give them back the means to rapidly analyze reconciled, auditable data right now!
Our teams is at your service. Let’s talk about your projects !
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