ReconNET Overview

This Operator course is meant to introduce ReconNET  at a high level so it's clear when and where an operator interacts with their reconcilement, or matching, process.

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Watch this now!

 

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The Upshot

What do operators contribute?

Operators contribute to Risk Management, introducing key controls in Cash (for instance). They can more efficiently identify where cash is missing which prevents the company from incurring losses, large unknown losses, or recurring losses and it also creates some cash control because now you have rules that you’ve set that you can also report on and know and set metrics, and send metrics/reporting out to your store locations, letting them know how they’re doing. Because if you can correct the issue, it minimizes the amount of exceptions you have to work. You use ReconNET to whip stores into shape. Only kidding! Be nice!

Move the text into the image. Left to right (ANSWERS): Automation, Risk Management, Risk, Pizazz
  • Automation
  • Pizazz
  • Risk
  • Risk Management

Side benefit of correcting issues?

Operators contribute key controls in Cash. They can more efficiently identify where cash is missing, that prevents the company from incurring losses, large unknown losses, or recurring losses and it also creates some cash control because now you have rules that you’ve set that you can also report on and know and set metrics, and send metrics/reporting out to your store locations, letting them know how they’re doing. Because if you can correct the issue, it minimizes the amount of exceptions you have to work. You use ReconNET to whip stores into shape. Only kidding! Be nice!

  • Fewer exceptions to manage
  • Get to send nasty-gram to stores!
  • Fewer losses
  • Action driven reports
  • All of the above

Who, Does What, When

When do you become involved?

Summary

After watching this video you'll understand when you enter the daily life cycle, your responsibilities, the impact your role has to the business, and some simple troubleshooting skills. In addition, we want you to understand 3 key facts about ReconNET at this high level!

*Answer around the 3:33-3:50ish mark, but watch the video :)

  • Data procurement
  • Loading my data into ReconNET
  • Interactive Matching
  • Automatic Matching

What are your responsibilities?

Summary

After watching this video you'll understand when you enter the daily life cycle, your responsibilities, the impact your role has to the business, and some simple troubleshooting skills. In addition, we want you to understand 3 key facts about ReconNET at this high level!

*Answer around the 0:55-1:13ish mark (sort of, not really, this is a POC people!); but watch the video :)

  • Interactively match exceptions
  • Giving my data to IT to load into ReconNET
  • Looking for perfect matches to "get them out of the way"
  • I just show up and magic happens, man!

Stay sharp

You have full ownership of your account reconciliation. You don't see your data today. What are 2 simple steps for resolving this problem?

Being an operator you have quite the job! ReconNET gives you the ability to really take the lead with issue identification and Risk Management. Part of this is managed by your admin, part of it by the team at Trintech Support, and finally (and most importantly) by having ownership over your reconciliation process. Two great steps for finding data are to search ReconNET and to search the convert and load directories to see where your data might be! These two steps will save you time and by doing this on your own, will keep you moving forward quickly, not relying on anyone else's availability.

  • Call your admin
  • Search your files in the convert and load folders
  • Call Support
  • Email Support with a full description and wait
  • Search ReconNET for your items using all available filters and search capabilities

Stuff to remember

What is the key usage example for ReconNET overall?

Key usage

IT automates as much as possible for the operator. Once IT owns and automates the data gathering process, the loading of data, and once automatic reconciliation in ReconNET has been scheduled, the end-user (or business user) no longer has to procure data saving hours in a business day. 

  • IT automates as much as possible for the operator. Once IT owns and automates the data gathering process, the loading of data, and once automatic reconciliation in ReconNET has been scheduled, the end-user (or business user) no longer has to procure data saving hours in a business day.
  • IT automates next to nothing for the operator. Once IT disowns the data gathering process, and once automatic reconciliation in ReconNET has been derailed, the end-user (or business user) no longer has to procure data saving hours in a business day.

Identify the value propositions for ReconNET.

Key value proposition

Ability to control or enable rule settings granularly at the operator level. Ability to segregate duties. Abilities to manage the application’s functional controls to prevent any losses (such as the right to edit items like the amount of a bank transaction, the right to manually create or edit GL balances or via a load). 

  • Rule settings
  • Segregation of duties
  • Loss prevention
  • All of the above

What are a few key implementation considerations for ReconNET overall?

Key implementation considerations

A planning consideration is to remember it’s not always an internal source system so be prepared for any challenges working with 3rd party vendors acquiring data sources. For deployment of Credit Cards (another rec type) you have to work with credit card processors each with their own delays and timings as to when they ‘do’ deployments, blackouts, etc. Deployments typically occur 1-2 weeks after period-end close. Month-end is never really a good time for roll-outs ;-)

  • Plan for timing issues with 3rd party vendors
  • Plan to deploy ReconNET at period-end for maximum results
  • Plan to deploy without considering 3rd party vendors outside commitments
  • All of the above