Business Services Industry

CEC Entertainment Moves from Manual Processing to Loss Prevention with Chesapeake's T-Recs

Business Wire, March 14, 2003

Business Editors/High-Tech Writers

OWINGS MILLS, Md.--(BUSINESS WIRE)--March 14, 2003

Chesapeake System Solutions, Inc. (R)announced today that CEC Entertainment Concepts, L.P. ("CEC") purchased Chesapeake's Total Reconciliation Solution (T-Recs(R)). CEC plans to use T-Recs to automate its bank and credit card reconciliation tasks, which are currently accomplished manually.

Danny Boruff, Manager of Cash Accounting for CEC stated, "We believe T-Recs is a cost effective tool that will enhance the timely identification of cash discrepancies resulting in greater cash control and reduction of losses. With the automation of tasks performed by T-Recs, the primary focus of our staff will shift from performing monthly processing tasks to daily loss prevention. The timeliness of identifying cash discrepancies will be significantly enhanced."

CEC plans to use T-Recs to:

-- Automate the matching of daily store deposits reported by the bank to amounts recorded on their point-of-sale registers.

-- Automate the matching of payments received from credit card companies for customer credit card charges to amounts recorded on their point-of-sale registers.

-- Streamline bank reconciliation and other cash management tasks providing greater flexibility for growth and more efficient communication of financial issues with management and store personnel.

About Chesapeake System Solutions

Chesapeake is an industry leader in automated reconciliation, account analysis and compliance software solutions. Chesapeake's growing success evolves from its powerful combination of customer and industry-driven software, personalized customer support and pioneering technology and functionality.

Chesapeake's single-vendor product and support solution includes the Total Reconciliation Solution (T-Recs(R)), a comprehensive reconciliation and deposit verification system, Unclaimed Property Compliance System (UPCS(TM)), which automates unclaimed property reporting for all 54 jurisdictions and SmartAnalysis(TM), which helps you quickly confirm your bank is fulfilling its promises by analyzing trends and comparing services across your banks.

Please visit www.chessys.com for more information.

About CEC Entertainment Concepts, L.P.

CEC Entertainment Concepts, L.P. is a subsidiary of CEC Entertainment, Inc. CEC Entertainment, Inc. and its subsidiaries (the "Company") is based in Irving, Texas and operates a system of 438 Chuck E. Cheese's restaurants in 47 states, of which 388 are owned and operated by the Company.

COPYRIGHT 2003 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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