Introducing TJ Recon PRO: Engineered for retailers to protect against revenue leakage

Transaction Junction, which positions itself as a leading fintech innovator in Southern Africa, has launched a game-changing automated reconciliation platform: TJ Recon PRO. As the next generation of the company’s established TJ Recon service, PRO is bank-agnostic and specifically engineered to simplify and streamline financial processes for businesses with the most complex transaction ecosystems. It is capable of reconciling all payment methods – delivering the clarity your finance team needs.

Many retailers still rely on manual reconciliation – a process that is not only an immense drain on resources but also a significant financial risk. Simple human errors can lead to a domino effect of issues that directly impact your bottom line:

• Time and effort intensive: Your finance team spends countless hours on tedious checking and comparing files, leaving less time for strategic, high-value tasks.
• Revenue leakage: Unreconciled transactions result in lost revenue that often goes unnoticed, cutting into your profits.
• Fraud vulnerability: Manual processes make it difficult to spot and flag suspicious transactions in time to prevent loss.
• Delayed reporting: Hours spent manually matching data means your finance team is always a step behind, unable to provide timely, accurate financial reports.
• Compliance risks: Inconsistent or incomplete reconciliation exposes your business to unnecessary audit risks and governance failures.

Automated reconciliation simplifies complexity and streamlines the manual process of matching transactions across financial records. It provides a level of clarity and efficiency that manual efforts simply cannot match.

Think of it as a super-fast, intelligent assistant that instantly compares all your transaction records. Its main job is to quickly find any discrepancies, or “exceptions”, whether a payment is missing from one list or the amounts differ. By instantly highlighting these exceptions, the system gives you the actionable insights needed to save valuable time and ensure your financial books are always accurate.

Automating this vital process helps your business to:

• Improve financial accuracy: Eliminate the risk of human error with a system that performs precise, rule-based matching.
• Gain prompt insights: Get an instant, real-time view of your financial health, allowing you to identify and resolve discrepancies as they happen.
• Save time and effort: Free up your finance team to focus on strategic growth initiatives, high-level analysis and optimising your bottom line.

Transaction Junction provides its customers with access to an intuitive portal for a comprehensive view of their reconciliation and exception data. With powerful search and filter capabilities, you can generate and export tailored reports in just a few clicks.

Crucially, the system supports real-time ingestion of transaction data and performs rolling reconciliation as new data arrives. This means continuously updating the reconciliation status without requiring a full batch reprocessing. No more waiting – watch your transactions reconcile in real-time.

Built on a scalable and secure architecture, with 24/7/365 monitoring and proactive customer support, you have complete peace of mind that your data is always protected and available.

Transaction Junction’s intuitive portal features three main reconciliation dashboards:

• Transactions: View the reconciliation status of all your individual transactions.
• Exceptions: Instantly view transactions that were not successfully reconciled.
• Expected settlement: View the total amount you can expect to be settled into your bank account.

TJ Recon PRO is a fundamental upgrade built for today’s multi-channel retail market. Transaction Junction’s PRO platform delivers the following market-leading features:

• Advanced three-way reconciliation: Comprehensive matching across client, provider and switch data for ultimate accuracy.
• Extensive bank support: Fully supports major South African and African acquiring banks, including Absa, Capitec, FNB, Nedbank, Standard Bank, Bank Windhoek, Absa Africa, FNB Africa, Nedbank Africa and Stanbic.
• Reconcile all payment methods: Get full reconciliation across every payment method, including card payments, alternative payment providers, loyalty programmes, VAS and vouchers.
• Never miss an exception: Easily manage identified issues by opening, snoozing, resolving and adding notes to exception transactions. Bulk actions are supported.
• Full transaction history: View the complete reconciliation history trail for every individual transaction.
• Ageing report: The system automatically tracks how long transactions remain in an unreconciled status, highlighting risk areas.
• Complete audit history: Supports a full log of user actions and data access, detailing who viewed, edited or exported data for strict compliance.

This reconciliation platform is more than just a tool – it’s a strategic partner for your finance department. It allows you to reclaim valuable time, protect your revenue from leakage and fraud, and empower your team to focus on what matters most: growing your business.

Reclaim your time. Protect your revenue.

Learn more and chat to Transaction Junction today:

Learn more: https://transactionjunction.co.za/reconciliation-services/

Chat to Transaction Junction: https://transactionjunction.co.za/reconciliation-services/#chat-to-us