Supplier Statement Matching
Supplier Statement Matching Overview
Features
Our automated supplier statement matching solution fully integrates with existing financial operations, automating the entire reconciliation process. It intelligently ingests supplier statements in diverse formats (PDF, Excel, scanned) and matches them against your Accounts Payable records.Utilising AI, the platform identifies and flags exceptions such as duplicate invoices, missing credit notes, or mismatched amounts, for efficient team review.
Designed for a straightforward "plug-and-play" implementation, it seamlessly integrates with major ERP systems like SAP, Oracle, and Microsoft Dynamics, providing real-time visibility into the process through comprehensive dashboards and audit-ready reports.
Benefits
Drastically Reduced Reconciliation Time:
Reduce supplier statement reconciliation time by up to 90%, freeing up the AP team for more strategic initiatives.
Improved Accuracy and Cost Savings:
Achieve up to 99% accuracy in reconciliation, preventing costly errors such as duplicate payments and missed credits.
Enhanced Financial Control:
Gain real-time visibility and control over your AP processes, enabling faster decision-making and improved cash flow management.
Stronger Supplier Relationships:
Faster and more accurate statement reconciliation leads to fewer disputes and builds greater trust with suppliers.
Technical Details
Inputs
Sales ledger, PO and payment data as well as supplier statements.
Outputs
Exception report of mismatched items
Geographic Availability
Additional Information
This solution delivers significant benefits by freeing your business from several key pain points. It eliminates the time-consuming manual matching of supplier statements, replacing a tedious and inefficient process. By preventing human errors inherent in manual reconciliation, it safeguards against financial losses that can easily go unnoticed.Furthermore, it overcomes the lack of visibility and control often experienced by providing complete transparency through full audit trails and real-time reporting.
Finally, the solution helps mitigate strained supplier relationships by dramatically reducing the payment delays and disputes that frequently arise from slow or inaccurate reconciliation.
