This case study delves into the obstacles that Grand Casino Baden faces in payment reconciliation. It sheds light on the specific challenges in monitoring cashless payment flows and adhering to regulatory requirements. With the integration of ReconHub by Abrantix in 2021, process security was significantly enhanced, leading to efficient financial control and substantial time savings. The study illustrates how modern technology can facilitate transparent and reliable oversight of cashless financial transactions.
The Client: Stadtcasino Baden AG
Stadtcasino Baden AG is a Swiss conglomerate headquartered in Baden. The company operates both the Grand Casino Baden and the online casino jackpots.ch. In addition to their casinos, they manage two restaurants and a club. The group also includes Gamanza Group AG, a software developer for the gaming industry, and Casinò Locarno SA. Stadtcasino Baden AG places a strong emphasis on innovation and sustainability, actively engages in cultural and social initiatives, and maintains a strategic focus on diversification and profitability.
Introduction
Stadtcasino Baden AG offered a range of payment options at both Grand Casino Baden and their online platform jackpots.ch. The accepted payment methods included:
- Cash: CHF and other major currencies
- Credit and Debit Cards: Visa, MasterCard, and Maestro
- Mobile Payment: Twint
- Bank Transfers: For larger transactions or online player accounts
This diverse array of payment methods ensured that players had convenient and secure ways to fund their accounts and carry out transactions.
The Challenge
Guests preferred card payments and Twint, leading to significant complexity given the diversity of customers and the various payment methods used both online and offline. The challenge lay in processing these different payments efficiently and accurately, requiring the precise recording, verification, and reconciliation of each transaction. The wide range of customer needs and payment methods necessitated a customized solution to ensure that every transaction was quickly and accurately recorded. Accurate reconciliation and verification were crucial for ensuring a smooth payment process while maintaining the security and reliability of transactions.
The manual processes for monitoring and reconciling our transactions were extremely time-consuming and prone to errors. Therefore, Stadtcasino Baden AG sought a solution that would allow them to automate these workflows, thereby ensuring comprehensive control and transparency over their financial flows.
The Solution
After reviewing various payment processors and solution providers, Stadtcasino Baden AG discovered that none could accommodate all 15 payment methods on a single platform. This made finding a suitable solution quite challenging.
Once Stadtcasino Baden AG contacted Abrantix for a live demo of ReconHub, the value of the solution became immediately apparent. Despite initial concerns about the costs, the time savings and transparency offered by automation were compelling. A comprehensive ROI calculation and a submitted budget proposal ultimately confirmed the economic viability of investing in ReconHub.
Efficient Financial Control and Time Savings with ReconHub: A Success Story
The seamless implementation of ReconHub significantly reduced internal effort. Since ReconHub was chosen as a SaaS solution, Abrantix project managers handled the initial setup, allowing the staff to focus solely on mastering the use of ReconHub.
Thomas Hoppler, Director of Group Finance at Stadtcasino Baden AG, highlights the positive impact of ReconHub: «In our quest for a professional solution to streamline our revenue reconciliation process for the online casino, we found our ideal partner in Abrantix in 2021. The swift, straightforward, and professional collaboration during both the implementation and ongoing operation reaffirmed our choice. Due to the positive experience, we have gradually extended the software's application to other areas of the company. The fully automated transaction-specific matching enhances transparency and data quality, allowing discrepancies to be identified and resolved promptly. This ensures the necessary quality and security in the reconciliation process.»
The automated posting and detailed logging of each transaction led to significant time savings in accounting and during the review of quarterly and annual financial statements. The complete transparency allowed for the immediate detection and correction of erroneous cash flows. ReconHub provides reliable and efficient control over financial streams, a feat previously achievable only through substantial manual effort.
Card Brands
Interfaces
ReconHub Project Effort
Grand Casino Baden is highly impressed with the benefits that ReconHub brings to the table and wholeheartedly endorses it for businesses managing a high volume of card transactions. By investing in ReconHub, companies can enjoy substantial time savings while boosting both accuracy and transparency. Reach out to us to learn how ReconHub can streamline your payment reconciliation process and take your business operations to the next level.
