Couche-Tard Eastern Seeks Better Reconciliation

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Couche-Tard Eastern Seeks Better Reconciliation

LAVAL, Quebec -- Alimentation Couche-Tard's Eastern Division, operator of convenience stores under the Circle K and Mac's banners, has selected Dallas-based Trintech Group Plc ReconNET system, which automates funds reconciliation processes, monitors transactional risk, and optimizes the resolution and reporting of exceptions.

The ReconNET system is also used in Couche-Tard's Circle K divisions in Arizona and Mac's convenience stores in Ohio, according to the Trintech Group.

"We required an effective reconciliation solution that could scale to meet our needs, as well as allow us to independently tailor it to disparate reconciliation processes," Marcel Jacques, Eastern Division IT development manager, said in a statement. "ReconNET will provide us with a great deal of autonomy. We'll be able to expand the use of the system throughout the division to streamline reconciliation processes and increase efficiencies."

As part of the system, the chain's IT developers will fully automate the reconciliation of thousands of accounts, efficiently track related exceptions, and potentially reduce operational risk, the company stated.

"We're pleased that ReconNET was recognized for its ability to easily automate a large variety of reconciliation processes. The platform enables self-sufficiency and Couche-Tard will find that it will easily adapt to meet their greatest transaction reconciliation challenges," John Harte, executive vice president and general manager for Trintech, said in a statement. "Couche-Tard joins a host of other prestigious convenience retail clients, including 7-Eleven, Murphy Oil and Valero."