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Automated Statement Reconciliation for any ERP System

Our objective for Statement Automation is to deliver a process that fully automates the reconciliation of Excel, PDF and Paper statements. Options to automate the resolution of exceptions based on rules completely frees-up Accounts Payable resources to focus on value-add. Reporting enables you to quantify and analyse the root cause of issues, so that you can drive continuous improvement to the process and reduce the volume of errors.

Statement-Matching also provides a portal extension where suppliers can be given self-service access to view the status of their invoices and payments. Optionally, suppliers can submit messages against invoices and payments, which are forwarded to your existing query mailboxes. Suppliers are also able to upload statements on the portal to reconcile their own account, with the results of course being visible to your AP team.

Automated Statement Reconciliation-min

How It Works

Automated Reconciliation

Automated daily upload of invoice data from your ledgers. Excel, PDF or Paper statements are automatically reconciled with an overall status allocated to each statement and statement line. Accounts Payable are left with only the exceptions to manage with auto-follow up to suppliers and fixing errors on the ledger.

Managing the Exceptions

Reconciliation reports identifying missing invoices/credits, miss-postings and data discrepancies. Resolve the errors on your ledger and share reports with suppliers to request missing invoices/credits and provide status for each document with due dates, paid dates and payment references.

Improve Controls & Profits

Reconcile higher volumes of statements and never again miss a credit, miss-posting or duplicate. Resolve errors on a timelier basis to pay more suppliers on time, reduce queries and maximise early payment discount opportunities. Leave less money on the table for 3rd party audit recovery and reduce aged GRNI balances.

Manage Exceptions Only

Automating the receipt, reconciliation and resolution of exceptions with suppliers leaves Accounts Payable to fix the errors on their ledgers that were highlighted on the rec.

Statement-Matching is simple to implement, all we need is some invoice header and supplier data from your ERP system. If you are using a Cloud ERP or S2P system then we can get the data via the API’s. If your ERP system is On-Prem then we provide a data requirements specification for your IT team to create a simple data extract routine. We have customers providing data from every ERP system you can think of and we are not writing anything back, so it’s an integration-lite solution from an IT perspective.

Once we have data from your production system, we will have Statement-Matching up and running, ready to give you training in 7 – 10 days. There is no implementation cost for Statement-Matching, we provide all the training and hand-holding you need until it’s signed off for BAU. Our commercial model is based on annual subscription over 12, 24 or 36 month terms. We do not charge for the POC or implementation to go live, so we have skin in the game to make sure customers achieve their goals and we are with you for the journey.

We also offer a free Proof of Concept to try the Statement-Matching using your data as part of due diligence and evaluation to support your business case. See Pricing page for more details.

We would also welcome the opportunity to introduce you to existing customers to reference the benefits they’ve achieved with the platform.

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