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Retail Technology, Retail technology News

Automated accounting at John Lewis Partnership

Automated accounting at John Lewis Partnership
Monday August 25 2014

The retail giant is now automating aspects of its accounts reconciliation process

The John Lewis Partnership (JLP) has rolled out transaction control software to automate its reconciliation process.

The retailer has deployed Gresham Computing’s Clareti Transaction Control to automate complex aspects of its general ledger reconciliation.

The system replaces manual spreadsheets and is expected to deliver time and cost savings to the business, alongside additional controls.

Matching items

Automating General Ledger reconciliations will enable the Partnership to quickly match data from various sources on a single control platform. With CTC, the retailer can obtain an up to date list of unmatched items instantly, allowing staff to focus on resolving any errors that occur.

CTC was selected following a competitive pitch process, which included a proof of concept. It’s understood the Partnership was impressed by CTC's ability to rapidly on-board reconciliations in line with the needs of the business.

The John Lewis Partnership operates 42 John Lewis branches across the  UK including 31 department stores, 10 John Lewis at home and a branch at Heathrow Terminal 2,, 320 Waitrose branches, and business to business contracts in the UK and abroad. The business has annual gross sales of over £10bn.