About SpotOn

SpotOn is one of the leading software and payment companies in the United States, trusted by tens of thousands of restaurants and local businesses. Amidst massive growth, SpotOnʼs accounting department manages immense transaction volume and complexity—reconciling data across multiple payment processors, bank accounts, and entities every day. For Jack Chalfant, SpotOnʼs Controller and EY alumnus, that scale demanded a new approach to their accounting operations. “Our growth as a point-of sale and payment processing services provider meant the accounting work multiplied quickly,ˮ Jack says. “We needed to keep pace without adding headcount or sacrificing control.ˮ

Challenge

Bank reconciliations sit at the center of SpotOnʼs close every month, with SpotOnʼs accounting team pulling files from multiple bank accounts, stitching together payment data, and manually uploading journals to NetSuite. The companyʼs various financial systems required heavy manual work, getting data into NetSuite with constant downloads, reformatting, pivot tables, mismatches and error checks. "The manual labor associated with month-end activity became unsustainable with the pace of business growth," Jack explains. "The net result was a month-end spike of activity, recurring late adjustments, and limited mid-month visibility into where reconciliations stoodˮ. As transaction volumes climbed, so did the manual grind — more files, more spreadsheets, and more time lost to reconciliation instead of analysis.

Evaluation

As SpotOnʼs transaction volumes soared, so did the pressure for speed, precision, and airtight control. “To maintain control and meet audit standards, automation had to become part of how we operated,ˮ Jack says. SpotOn was looking for a solution that could integrate seamlessly into the multiple data sources and enable real transactional automation, without sacrificing control, accuracy, and documentation. Maxima stood out when compared to all other options as the best solution to help SpotOn achieve all of these goals.

Solution

SpotOn began its Maxima deployment with cash automation, the most time-consuming and complex part of its month-end close. Within weeks, the benefits were clear. The sprawling excel workbooks that once held their process together were no longer needed as Maximaʼs platform ingested daily transactional data, applied SpotOnʼs custom mapping and matching rules, and prepared journals that flowed directly into NetSuite for review and approval. More importantly, Maxima introduced true transaction-level automation, a capability that once seemed out of reach for high-volume operations.

At the core of this transformation was Maximaʼs Transaction Matching module, which automated repeat workflows across millions of transactions each month. By holding full transaction lineage within Maxima, reconciliations ran at scale without clogging NetSuite or slowing its performance.

For Jack, the change was both operational and strategic. With end-to-end AI-enabled close automation, his team now meets core controllership objectives with greater speed and confidence, including:

• Increased accuracy and accountability through deterministic outcomes and complete audit trails

• Stronger control and compliance with clear preparer and reviewer separation and verifiable evidence for auditors

• Scalable automation within NetSuite, keeping the system of record intact while removing manual work around it

• Flexibility to manage automation logic with Maximaʼs no-code operators, enabling accountants to make changes directly without IT support or control risk.

Impact

“We have more confidence in our data and people spend time on exceptions and trends, instead of building fragile formulas./ Because reconciliations and postings now happen throughout the month, the first week of close is calmer and more focused on analysisˮ. Maximaʼs real value for SpotOn is in redeploying time back to higher value work for every accountant. As Jack explains, “my team now spends majority of their time investigating mismatches or on strategic work like validating policy and activity analysis instead of posting and reviewing cash journal entries. The work overall feels higher impact, the pace more sustainable, and the numbers more trusted.ˮ

This new way of operating prompted the team at SpotOn to extend their partnership with Maxima. The team is planning to extend automation to credit card reconciliations and other high-volume workflows like payroll, while piloting anomaly detection and flux insights to identify issues before they surface. “Weʼve already seen the positive impacts of Maxima and want to bring these efficiencies and control to the other high-volume transactional processes we own.ˮ