Aurum Solutions has saved NetBet money and increased the team's productivity.

Oana Tinta
Treasury Specialist
Client
NetBet
Industry
Gambling

Summary

To confidently perform the reconciliation of millions of transactions seamlessly, whilst being prepared for the future, NetBet founded a long-term partnership with Aurum Solutions for the automation of reconciliation processes. As a result, NetBet has ensured an accurate cash position at any given time, and guaranteed compliance so they can pass any financial audit.

As NetBet continues to grow, Aurum’s solution is proving to be fully scalable for high-volume matching, thereby saving the company money and increasing the team’s productivity.

Everything could be solved by your team. They were there for me at every step, every mistake, every incorrect file I uploaded and every that didn’t. We worked together.
Oana Tinta, Treasury Specialist
NetBet

Challenge

As NetBet grew, by 2018 they realised that their reconciliation process was not fast enough to sustain their growth. Their finance team struggled to keep up with the number of transactions they were processing and to manage the lack of consistent data due to the amount of PSPs. Using Excel, the task was labour intensive, and the whole process was inefficient. That was when Aurum Solutions stepped in.

Solution

When starting to work with NetBet in 2018, Aurum Solutions’ first suggestion was to target the PSPs with the highest number of transactions being processed. This would allow NetBet to gain confidence in their new reconciliation process by seeing a big batch of transactions matched in one go. The training process from Aurum’s team was fundamental to explaining to NetBet all the steps they needed to take to make this happen.

Aurum consultants trained me [to use Aurum]. Every training is the first step from 100 steps you require to know something.
Oana Tinta, Treasury Specialist
NetBet

Focusing on working with PSPs, the second hurdle NetBet faced was the changes these payment providers made to how they communicate their data. Aurum’s support team immediately resolved this challenge and with everything integrated, the plan was to make the financial audit for 2020 using the Aurum Summary Reports and then upload everything to their Xero account.

Tim took a couple of weeks to help us. He went to every PSP with issues and showed us the solution. Also, with Nathan, he understands all our needs and solves them immediately. I send an email, and in five minutes boom, I have the issue solved
Oana Tinta, Treasury Specialist
NetBet

Result

Ensuring data was accurate at all times, fixing the integrations and centralising the information was the ultimate business goal. By using Aurum’s platform, NetBet is secure in the knowledge that all their reconciliation is under one roof, integrated with all payment solutions and data sources. They enjoy complete control over a proven money segregation process which facilitates full compliance and a totally auditable exception management workflow.

Aurum Solutions has saved NetBet money and increased the team's productivity.
Oana Tinta, Treasury Specialist
NetBet

Solutions used:
Bank Reconciliation
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PSP Reconciliation
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Client-Money Reconciliation
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