Efficient financial and payment management for an international eFashion customer
An internationally active e-fashion company with several brands and online stores throughout Europe has chosen nexnet as its partner. nexnet takes over the complete billing, accounting and payment management.
After a project duration of just six months, the customer was successfully transferred to productive operation.Mapping the complex payment and billing processes with 21 stores, 4 brands, 10 countries (EU and non-EU), 3 currencies and 19 payment methods for several PSPs is a challenging task that nexnet solves efficiently, transparently and highly automatically.
Challenges & solutions
The business model in the eFashion sector brings with it numerous operational and technical challenges: different country requirements, currencies, payment methods, PSPs and high transaction volumes. Added to this are eCommerce-specific issues such as discounts, loyalty programs and couponing, which have to be processed in real time.
In order to meet these complex requirements, nexnet developed a customized solution that centrally bundles and automates all financial processes:
Billing management: Automated creation and dispatch of invoices to end customers within a few minutes.
Payment Processing: Processing payments in real time across different PSPs and payment methods.
Accounting & Subledger Accounting: Provision of aggregated posting data in the SAP system for efficient month-end closing.
Reporting & Business Intelligence: Live data provision in the BI system for full transparency of transactions and sales.
Quality and security management: processes according to ISO 27001 standard guarantee data security and stability in operations
By implementing the nexnet solutions, the customer was able to almost completely automate its financial and payment processes.
The automation rate is 99.9%, meaning that manual intervention has been reduced to a minimum. Invoices are created and sent in the shortest possible time, payments are processed immediately and booking data is available promptly.
Thanks to the centralized and transparent mapping of all financial processes, the customer benefits from significantly increased process reliability, more efficient monthly closings and a sound basis for decision-making in financial management.
E-Fashion / E - Commerce
- Billing & Invoicing
- Accounting & Payment Management
- Reporting & BI
- Automated bank processing and PSP coordination
- ISO 27001-certified process quality
- Europe & Non-EU
- Middle class
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Success in figures
25 +
Years of experience
80 MM.
Invoices per year
20 billion
Transactions per year
99.9 %
Availability
Results & conclusion
By implementing the nexnet solutions, the customer was able to almost completely automate its financial and payment processes.
The automation rate is 99.9%, meaning that manual intervention has been reduced to a minimum. Invoices are created and sent in the shortest possible time, payments are processed immediately and booking data is available promptly.
Thanks to the centralized and transparent mapping of all financial processes, the customer benefits from significantly increased process reliability, more efficient monthly closings and a sound basis for decision-making in financial management.