ROSEMONT, Illinois, April 29, 2015 /PRNewswire/ --
Quatrro Business Support Services (Quatrro), a market leader in providing cloud based business support services, has been playing a trend-setting role in reducing fraud across the franchise industry in the United States. Over the years, Quatrro has helped its auto, restaurant and retail franchise clients achieve several million dollars of fraud related savings and thereby protected their capital.
The franchise industry is constantly challenged to minimize the revenue losses due to poor reconciliation practices. In addition, a lack of transparency into the Record-to-Report (R2R) cycle affects the operational performance and profitability of small businesses.
Quatrro conducted a thorough analysis of these pain points and architected a comprehensive account reconciliation solution, branded as 'Qrecs', that helps to identify exceptions through sales and cash deposit verifications at the store level and prevent revenue leakage. Quatrro's proprietary technology platform enables small businesses and franchisees to streamline their Record-to-Report (R2R) cycle by creating electronic links between the POS terminals used by store owners and Quatrro's own accounting software. This helps to provide comprehensive audit trails, effective internal controls and tracking of all exposures within a timely basis.
With well defined workflows and supported by 3-way grid-match, Quatrro's reconciliation solution ensure minimization of fraud at POS terminals. Key reconciliation offerings include:
- Bank Account Reconciliations
- Sales and Cash Deposit Verifications
- Credit Card Deposit Verifications
- Gift Card and Gift Certificate Reconciliations
Commenting on Quatrro's pioneering role in fraud detection and prevention to the franchise industry, Charles Harmornick, President - Quatrro Business Support Services, said, "Quatrro focuses on reducing the risk of fraud and increasing accuracy across our clients businesses through a combination of human intelligence and platform capabilities. We offer our industry proficient solutions through accountants with knowledge base in US GAAP, SOX and accounting best practices that result in shortened cycle time, reduced manual effort and up to 40% cost savings for our clients".
About Quatrro Business Support Services (Quatrro)
Quatrro Business Support Services, one of the leading businesses under the Quatrro brand, consists of a range of affordable business support services that are offered through industry's first 'Click and Buy' interface on the cloud. Built on the innovative "Internet of Things" concept, the digital portal enables SMB clients to review, evaluate and buy a bundle of services off-the-shelf on a 24x7 basis.
Quatrro FPO Solutions is the Finance & Accounting business unit under the 'Quatrro Business Support Services' brand. It offers a broad range of platforms and cloud based accounting services by leveraging the industry's leading accounting platforms designed to create economies of scale resulting in enhanced financial visibility, lower costs and improved business processes. Its client base includes over 6500+ Small & Medium Businesses across auto parts, restaurant, retail, healthcare and hospitality industries, that include franchises of some of the legendary and iconic brands in the nation, as well as not-for-profit organizations. For more information, visit www.QuatrroFPO.com.
Senior Vice President
SOURCE Quatrro Business Support Services Pvt. Ltd.