More NewsUniFirst Uses Chesapeake’s T-Recs Enterprise for Financial Reconciliations

UniFirst Uses Chesapeake's T-Recs Enterprise for Financial Reconciliations

UniFirst, a provider of uniforms, workwear and protective clothing, has chosen Chesapeake System Solutions’ software solution T-Recs Enterprise. UniFirst signed a three-year agreement under which Chesapeake is hosting the solution at its advanced data centre and providing all systems maintenance and updates.

UniFirst also licensed Chesapeake Internet Data Manager (IDM), a system that automates the retrieval and distribution of internet financial data, eliminating dependence on outside data collectors and time-consuming manual work. UniFirst installed Chesapeake IDM on its server in its Wilmington, Mass corporate headquarters. Together, the two solutions automate the process for reconciling the local depository accounts supporting the firm’s plants and branch operations across the US.

Jim Kulesza, treasury manager, UniFirst Corporation, said: “UniFirst aggressively seeks new opportunities to add efficiencies that will not only streamline our operations, but also better serve our customers. Obtaining the hosted T-Recs Enterprise solution immediately delivered two major corporate benefits: enhanced risk management and improved staff utilisation without costly additions to our IT infrastructure. We also cut the time needed to detect bank deposit variances from weeks to days, limiting opportunities for fraud and eliminating most write-offs. Combined with a reorganisation of our accounting department, we simultaneously reduced the number of staff accountants assigned to account reconciliation. Finally, we gained these efficiencies with minimal capital outlays and no infrastructure additions.”

Chesapeake’s T-Recs Enterprise, SmartAnalysis, SmartTreasury, UPCS and IDM are available as licensed software or hosted applications. Chesapeake also offers complete outsourced services.

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