Betting Operator Tote Group Appoints Next-Generation Reconciliation Software Specialists Aurum Solutions

British betting operator The Tote has chosen next-generation reconciliation software specialists Aurum Solutions to automate their reconciliations.

The Tote, founded in 1928 by Sir Winston Churchill, has a rich history as one of the UK’s most well known and respected betting operators. With over 90 years at the heart of British racing, it has moved into the world of online betting under the ownership of the UK Tote Group. This has been supported by Aurum Solutions, helping the Tote open up to a larger audience. With this move, Lee Dalton, Head of Management Accounting, identified that the Tote needed a solution and the Tote team turned to Aurum.

For the past two decades, Aurum has been working with companies that span sectors including banking, betting, fintech, asset management, hospitality and insurance amongst others in over 35 countries and has worked with hundreds of household brands both in the UK and globally, including Stonegate Group, Octopus Investments, Ladbrokes, HTB, Admiral and more, supporting finance teams and transforming departments’ data quality and operational efficiency.

For Madison Wilson, Management Accountant at the Tote, thanks to using Aurum, her experience with reconciliation and managing exceptions has been greatly enhanced. Quickly, the Tote can ascertain matches and exceptions on a transaction-by-transaction basis, helping the team easily spot and recover lost revenue. This not only saves the Tote time and money, but it is also helping improve their customer satisfaction scores.

“We know our journal files will be accurate because its entire output is from the data which Aurum has reconciled.” Says Lee Dalton, Head of Management Accounting, Tote.

Importantly, the additional level of detail that Aurum provides the Tote team ensures greater insights at faster rates which is crucial to running an efficient and secure business. Overall, having successfully introduced pool betting to a larger online audience, the Tote’s appetite to further expand shows no sign of slowing down. Fortunately, with Aurum, it is able to safely scale its payment processing capability to support this growth.

Says Tiago Veiga, CEO Aurum Solutions: “We match millions of transactions daily in seconds, helping The Tote save costs, improve processes, ensure compliance and gain peace of mind that they are working with accurate, fully audit ready data”.