Data Analytics Case Study: Enhancing Moveri AG's Transaction Accuracy through ReconHub

Client: Moveri AG

Moveri AG is a subsidiary of volenergy AG and is part of the Volare Group, a first-generation Swiss family business. With a focus on the petrol business, Moveri operates thousands of Ruedi-Rüssel and Miniprix petrol stations daily throughout Switzerland. The acquisition of the bp petrol station network in 2022 by volenergy AG expanded the offering to premium fuels like bp Ultimate Diesel and bp Ultimate Unleaded 98 with ACTIVE Technology. With over 700 locations, Moveri is the largest independent petrol station operator in Switzerland, providing customers with a dense network of petrol stations in rural areas, urban areas, and on highways.

Introduction

Moveri, the largest independent petrol station operator in Switzerland, has 700+ locations, providing a wide network in rural, urban, and highway areas. This extensive network, while beneficial in serving a wide range of customer needs, introduces significant challenges in the realm of transaction reconciliation, particularly when considering the acceptance of more than ten different payment methods including Visa, Mastercard, VPay, Mastercard Debit, and various domestic payment options.

The Challenge

Firstly, the sheer volume of transactions that occur across such a broad network can be overwhelming. Each payment, whether made in a remote village or a bustling city center, must be accurately tracked and reconciled to ensure financial integrity. The diversity of payment methods further complicates this process. Each method may come with its own processing times, fees, and settlement processes, necessitating a sophisticated system capable of handling this complexity efficiently.

Furthermore, precision is crucial. The slightest discrepancies can trigger extensive, manual investigations to pinpoint the root of the issue. The range of payment options requires Moveri to possess a comprehensive grasp of the payment processes across various cards, introducing an additional layer of complexity to their operations.

While Moveri's extensive retail network serves as a key asset in meeting customer needs across Switzerland, it also poses distinct challenges in transaction reconciliation due to the high volume of transactions and the diversity of payment methods accepted. Addressing these challenges requires a combination of advanced technological solutions and meticulous financial management to ensure accuracy, compliance, and customer satisfaction.

The Solution

To overcome the challenges presented Moveri turned to ReconHub. This innovative solution offers a fully automated approach to transaction reconciliation, effectively eliminating the possibility of human errors that can arise from manual processing. By incorporating ReconHub into their existing infrastructure, Moveri has been able to streamline the management of cash flows related to card payments, thus facilitating the swift and straightforward reconciliation of outstanding items and fees.

Although integrating ReconHub necessitated certain adjustments and dedicated integration efforts, the transition was seamless, thanks to the proficient support provided by the ReconHub team. The Moveri personnel were actively engaged from the onset of the implementation phase, ensuring they were well-prepared to utilize the new system. The adoption of ReconHub was met with enthusiasm among the employees, who quickly recognized the advantages it brought to their operations. Notably, the project was executed successfully, adhering to the set timeline and budget constraints.

The Result

The integration of ReconHub brought about notable enhancements in Moveri's financial procedures. By automating transaction reconciliation, it considerably slashed time consumption while facilitating swifter and more precise transaction matching, down to each individual transaction. This led to enhanced operational efficiency and substantial time savings for the Moveri team. Moreover, ReconHub bolstered the transparency of Moveri's financial payment streams. The automated supervision of cash flows ensured seamless monitoring, empowering Moveri to promptly detect and rectify discrepancies or irregularities.

Implementing a sophisticated system like ReconHub has significantly streamlined the auditing process for Moveri, ensuring compliance with local rules and regulations in a more efficient manner. The automation of transaction reconciliation has not only reduced the potential for human error but also facilitated faster and easier audits. This efficiency is achieved by providing auditors with clear, precise, and organized financial records that are readily accessible and fully compliant with the latest standards. The system's capacity to handle complex data from various payment methods aligns with the rigorous requirements set by financial institutions and auditing bodies, thus enhancing Moveri's ability to meet operational, reporting, and regulatory demands with precision and reliability.