S&K Famous Brands Selects Trintech

Monday 7 February 2005 01:13 CET | News

S&K Famous Brands, a retailer of menswear with stores in 27 states, has selected Trintechs DataFlow Transaction Network to collect, format and deliver daily banking data, and ReconNET to automate the verification and reconciliation of its cash and checks with its banks.

S&K Famous Brands expects to further improve operational control and reduce exposure to risk, while decreasing costs, improving productivity and maximizing the use of available funds. S&K Famous Brands offers one-stop shopping and value prices for men in a traditional menswear haberdashery atmosphere. For 37 years S&K Famous Brands has been offering men a full selection of suits and sport coats, casual wear, shoes, accessories and furnishings. The companys 240 stores extend from Maine to Florida and from the East Coast to Texas. S&K Famous Brands will utilize DataFlow and the ReconNet software solution to improve detection and resolution of transaction variances resulting in reduced write-offs. Each day the company will receive account data for its regional banks through the DataFlow Transaction Network, and use that data for automated verification and reconciliation of deposits from its stores with ReconNET. S&K Famous Brands will also use ReconNET to help manage the movement of available cash from accounts in each stores depositing bank to its concentration account.

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

Payments & Commerce