Recharge.com is a leading global platform for prepaid payments, and they’ve shared how Actuals has transformed their financial operations. In a discussion, CFO Freddy Dijkman and Director of Business Control Ilse Prins opened up about the challenges they faced and how Actuals helped streamline their reconciliation processes.

Why Recharge.com chose Actuals
Recharge operates in around 160 markets worldwide, partnering with well-known brands like Paysafe, Google, and Sony PlayStation. With sales hitting approximately €500 million and a rapidly expanding customer base, efficient financial control became essential. During their vendor search, Dijkman noted that Actuals stood out by asking insightful questions that showed a genuine understanding of their specific challenges. This initial engagement laid the groundwork for a successful partnership.

Tackling the complexity of financial reconciliation
One of Recharge’s major hurdles was managing millions of transactions that varied by currency, brand partner, and denomination. This complexity made traditional reconciliation methods cumbersome. Dijkman stressed the need for a scalable tool that not only provided control but also adapted to future growth. Ilse Prins explained that they needed to match statements from Payment Service Providers (PSPs) with their transaction data and bank settlements. Inconsistencies in statements from providers like PayPal often complicated this task. However, Actuals enabled Recharge to engage in constructive conversations with PSPs to effectively address these discrepancies.

Enhanced reliability and efficiency
Working with Actuals has significantly boosted the reliability of Recharge’s financial data matching. Prins mentioned that this newfound accuracy allowed them to close their books faster and with less effort. The user-friendly interface of Actuals empowered her team to independently identify issues early in the reconciliation process, which has been crucial for improving operational efficiency. Before Actuals, Recharge relied heavily on spreadsheets and tools like Power BI, dedicating extensive manpower solely to managing reconciliation tasks. Now that Actuals automates high-level reconciliations, the team can focus on resolving outstanding issues instead of getting bogged down in the process itself. This shift has allowed them to manage end-point reconciliation effectively while enhancing overall data accuracy.

A commitment to continuous improvement
Both Dijkman and Prins expressed satisfaction with their experience using Actuals, highlighting three core values: collaboration, going the extra mile, and continuous improvement. They appreciate having a tool that keeps them in control and allows them to maintain a proactive approach to financial management.
In summary, Recharge’s partnership with Actuals exemplifies how innovative financial software can transform complex reconciliation processes into streamlined operations. By addressing the specific challenges faced by online merchants managing high transaction volumes, Actuals not only enhances decision-making but also establishes a credible stamp of trust essential for business growth in today’s digital landscape.

𝐀𝐜𝐭𝐮𝐚𝐥𝐬 – 𝐓𝐫𝐮𝐭𝐡 𝐈𝐧𝐬𝐢𝐝𝐞™