Automate supplier statement reconciliations to reduce errors.
Correct consistent payments are vital for strong, long-term supplier relationships. So when accounting errors occur, it can cause tension, missed deliveries and even loss of business.
By reconciling supplier statements you can highlight discrepancies before payment. Making sure supplier balances are correct – without missing credit notes or duplicate invoices.
But it’s challenging to keep on top of this with thousands of invoices to deal with daily – often in different formats. And figures may not match delivery values or purchase orders (POs).
Manual reconciliations often miss details – and can be passed between colleagues. Without a full audit trail, it’s hard to locate and resolve mistakes.