Our client, a leading retailer with a vast network of stores. They initiated a project to optimize accounting data exchange between internal systems and banking partners, leveraging a SaaS application's matching rules engine for streamlined and efficient processes.

In Finance management, the goal was to speed up the month-end process, reducing the Board Report delivery time from over six weeks to just two. The main hurdle from a retail accounting perspective was the labor-intensive account reconciliation process. To address this, an automation initiative is in progress.

The client needed a robust centralized platform to facilitate secure communication and data flow among various systems, including on-premise databases (Microsoft SQL Server) and an external SaaS application. RBT's experts worked closely with stakeholders to craft user-friendly modules, resulting in improved and effective processes.

Challenges

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Time

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Reliability

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Data Complexity

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Resources

  • 18 Resources were involved in managing all the accounting transactions.
  • Each resource spends an average of 32 hours completing all account reconciliations over a 2-week period.
  • Highly critical data like POS Sales, Ledger, and Bank Statements needed to be transferred among various systems, introducing multiple integration touchpoints.
  • A reliable integration middleware was needed for streamlined, secure, and performance-effective data transfer.

Solutions

  • Sales and Manager Approval Data Integration- Data from a relational database was gathered and transmitted to a financial software platform through API integration, following the application of various business rules.
  • General Ledger Data Integration- Similar to the sales data, transactional and financial master data were sent to the accounting software platform.
  • Account statements, in a specific file format, were retrieved and uploaded to the accounting software platform using secure file transfer protocols.
  • Payment Settlement Integration- Encrypted payment settlement files were fetched, decrypted, and uploaded to an internal collaboration platform.
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Business Benefits

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  • Efficient Data Communication- The middleware served as the central hub for data exchange between the client and multiple financial and accounting institutions, simplifying the data transfer process.
  • High-Speed Processing- Large volumes of transactional data and statements were processed in record time thanks to the middleware's multi-threading capabilities.
  • Robust Error Management- Advanced error-handling features were deployed, facilitating easier management of various application interfaces.
  • Real-Time Monitoring- Comprehensive data tracking features were enabled, allowing the client to monitor transactional data on various devices.
  • Legacy System Upgrade- Following the success of the pilot project, the client is considering replacing all existing system integrations with the new cloud-based middleware platform.

Boomi Awards and Certifications

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  • Highly critical data like POS Sales, Ledger, and Bank Statements needed to be transferred among various systems, introducing multiple integration touchpoints.
  • A reliable integration middleware was needed for streamlined, secure, and performance-effective data transfer.

About Ray Business Technologies 

Ray Business Technologies is a global information technology company provides wide range of services and solutions to clients worldwide. We specialize in various domains, offering tailored IT services that meet the diverse needs of our global clientele.

As a leading Boomi Partner, we are proud to have one of the industry's largest teams of Boomi Certified Developers. These experts bring a wealth of experience in developing complex solutions on the Boomi platform. Whether you're looking to integrate different systems, manage high-volume data, or automate business processes, our Boomi specialists are equipped to deliver robust and reliable solutions customized to your specific requirements.