Where Libra came from
The CEO asked for speed. The real need was certainty about the money.
Multi-branch café-restaurant chain
The CEO had no clear view of the cash across the branches. Closing the tills took each branch about three hours a day. Even then, nobody could say for certain that all the money customers had paid had reached the company. The reconciliation couldn't be trusted, and the cash couldn't be traced.
Not a faster close, but certainty. Every day the CEO needed to know that the money customers paid had arrived, and that every reconciliation from the till to the bank could be trusted.
A system that follows every payment automatically from the till to the bank account. It stops only at exceptions and passes every file through cashier, supervisor and finance. That system became Libra.
daily closing per branch, and a CEO who knows where the money is.
Figures from Libra's live system.
