Friendlys Restaurants Selects Trintechs ReconNET

Monday 6 December 2004 22:59 CET | News

Friendly Ice Cream Corporation, a restaurant company and ice cream manufacturer, has selected ReconNET to automate the verification and reconciliation of its credit card, bank deposits and gift card transactions for its 358 company-owned Friendlys restaurants.

The installation of ReconNET will enable the company to streamline its daily reconciliation processes, reduce costs and gain greater reporting and financial controls. Friendly Ice Cream, founded in Massachusetts in 1935, has grown from a single location to 544 franchised and company-owned Friendlys family-style restaurants in 16 states throughout the northeastern US. The company also manufactures ice cream and other frozen treats that are distributed through 4,500 supermarkets and other retail sites. In addition to automating its daily reconciliation processes, Friendlys will use ReconNETs research module to research non-matching transactions detected by the system, and use the ACH module to automatically move available cash from local depositing banks to interest-bearing corporate accounts.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce