Paymetric, a US-based integrated and secure enterprise payment acceptance solutions provider, has unveiled a new product to allow enterprises to automatically consolidate reporting from multiple sources to a single report within SAP.

Known as XiRecon, the new product will improve business efficiencies and mitigate risk with reduced exposure to loss.

Additionally, the product will simplify the reconciliation process across the business.

Paymetric said that the businesses that use XiRecon will be able to routinely view an updated holistic report from various environments.

According to Paymetric, the benefits of XiRecon will include the visibility into fundamental workflow and data issues, mitigated risk by reducing exposure to loss, and advanced warning regarding issues detected early in the settlement and funding cycle.

In addition, the product will decrease human error, increase operational efficiency, saving time and money across the business, and offer the ability to enforce clear business process and responsibilities around execution of reconciliation tasks.

Paymetric sales and business development senior vice president, Cameron Balash, said: "Businesses across many industries seek out Paymetric for solutions to streamline business processes, increase their efficiency and secure their sensitive data.

"With XiRecon, we are answering the call for an efficient solution to reconcile credit card settlements within SAP."