Case Study: Optimized Financial Processes at Magazine zum Globus AG with ReconHub

The Customer: Magazine zum Globus AG

Magazine zum Globus AG is a traditional Swiss department store featuring an extensive online shop. Since its inception, Globus has been renowned for its exclusive range and exceptional customer service, providing an outstanding shopping experience both online and in its stores. Following its separation from the Migros Group, where Globus had long used the group's own reconciliation solution, the company sought an independent option to not only maintain but enhance its high standards of financial reconciliation. The choice was made for ReconHub by Abrantix.

The Challenge

Magazine zum Globus AG is a traditional Swiss department store with an extensive webshop. Since its foundation, Globus has been known for its exclusive product range and first-class customer service, which offers an outstanding shopping experience both online and in the stores. After separating from the Migros Group, where Globus had used the company's own payment reconciliation solution for many years, the company was looking for an independent solution to not only maintain but also improve its existing high standards of financial reconciliation. The decision was made in favor of ReconHub from Abrantix.

The Solution: ReconHub from Abrantix

With ReconHub, Abrantix has developed a solution that was specifically tailored to Globus' needs. Thanks to Abrantix's extensive expertise and many years of experience in dealing with acquirers, banks and POS providers, a seamless transition was ensured. ReconHub is a user-friendly and easily configurable application that enables the efficient processing and reconciliation of all transactions, including bank statements, payment processor remittance data and sales data from cash registers and webshops.

Benefits and Improvements

1. Seamless transition: The transition from the Migros solution to ReconHub was seamless and did not disrupt Globus' business operations. ReconHub was not only able to take over the existing processes, but also optimize them further.
2. Enhanced transparency and automation: ReconHub's automated reconciliation enabled even greater transparency than before, making it even easier to monitor payment flows.
3. Efficient error correction: Simple correction mechanisms enabled Globus to correct unreconciled payments quickly and efficiently.
4. Comprehensive support for financial statements: Thanks to transaction-accurate reconciliation, ReconHub assisted with monthly and annual closings, which significantly reduced the workload of internal finance teams.

Project Implementation

Abrantix impressed with a smooth project execution. The company's extensive expertise and network were crucial for effective collaboration with all parties. Globus successfully achieved all its goals, highlighting the strategic correctness of choosing ReconHub.

The Conclusion

The implementation of ReconHub by Abrantix has enabled Magazine zum Globus not only to maintain but also enhance their high standards of financial reconciliation. The solution provides a future-proof foundation for precise and transparent financial reporting, positioning Globus as a leading company focused on innovation and efficiency.