How Purplle achieved 7x faster payments reconciliation
The Challenge
- Settling Cash-on-delivery remittances from multiple logistics partners took 3-5 days post delivery
- Manually reconciling sales, inventory, bank and payment gateway statements was effort intensive and delayed book closure by 10-15 days
- Inventory mismatches due to 20-30% return rate complicated stock adjustments
- Team of 30+ involved in validations, reconciliations
The Solution
- Automated, continuous data ingestion from payment gateways, banks, ERPs, and logistic partners
- COD settlements auto-matched against orders and bank credits
- Payment gateway settlements reconciled daily instead of at month-end
- Inventory movements reconciled systematically between WMS and GL
- Standardized and automated journal entries enabled continuous close
The Outcome
- 5x faster visibility into COD cash position
- 7x faster payments reconciliation
- 50% faster month-end close
- 70% faster inventory reconciliation
- 80% reduction in manual journal entries
- 10x faster MIS reporting
The Conclusion
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