Ratner Companies Selects Trintechs ReconNET

Monday 17 January 2005 10:08 CET | News

Ratner Companies, one of the industrys largest salon chains with nearly 900 salons and over 10,000 stylists, has selected Trintechs ReconNET, DataFlow transaction network and Bank Fee Analysis to optimize funds management processes.

Ratner Companies will automate the verification and reconciliation of its bank deposits with ReconNET, using Trintechs DataFlow Transaction Network to collect, format and deliver its daily banking data. To further reduce costs and streamline finance and treasury processes, Ratner Companies will monitor its bank fees with Bank Fee Analysis, which will detect and recover fee overcharges. Ratner Companies is the privately-owned parent company of Hair Cuttery, company-owned and franchised Hair Cuttery UK, BUBBLES, Salon Cielo and Spa, ColorWorks and Salon Plaza. The company operates nearly 900 salons employing over 10,000 Stylists across 14 states and the United Kingdom. Trintechs solutions will give Ratner Companies more control over their accounting and treasury lifecycle. By importing regional bank data with DataFlow, and automating daily verification of salon deposits and research functions with ReconNET, Ratner Companies can resolve transaction variances and reduce write-offs. Overcharges will be detected and recovered by automating fee error reporting through Bank Fee Analysis. Tightened controls resulting from Trintechs solution suite will allow Ratner Companies to improve productivity while reducing the costs associated with manual processes.

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Categories: Payments & Commerce | Payments General
Countries: World
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