Save time, reduce enquiries and, most importantly, pay suppliers on time by automating your supplier statement reconciliation process with autorecs
Processing power of 100% monthly reconciliation
The software identifies payment discrepancies made in a quicker time frame
Improve your cash flow by ensuring you have credit notes owed to you
Assistance with your duty to report on payment practices
Improve supplier relationships by paying supplier on time
Communicate with your vendors directly through autorecs
Reconciliation of supplier statements. A phrase that strikes fear into accounts payable teams.
A time-consuming, confusing and lengthy process, reconciliation of supplier statements is an ongoing issue for AP teams, who have to deal with potentially hundreds of line items that are on SOA.
With supplier enquiries surrounding invoice payments being a regular occurrence and the lack of good communication and transparency between AP & AR, there can often be a breakdown in communication between the customer and the supplier, leading to late or no payment of invoices.
Traditional methods still require the manual process of reconciling supplier statements, which continues to stretch an AP team’s time, particularly when errors and missing items create a lengthy process to reconcile.
Understanding the struggles for AP teams, after 17 years of experience working within Accounts Payable, autorecs provides a fully automated supplier statement reconciliation process.
All located within an easy to use web-based portal, AP teams can highlight any discrepancies within the reconciliation process via the autorecs dashboard. This ensures that overpayments, incorrect payments or missing items are quickly highlighted and resolved, creating an efficient process from start to finish.
Payment errors and Fraud identified and recovered by Westgate Moore Audit team
Drives adherence to the Prompt Payment Code
Delivers Duty to Report Payment Practice reporting
Provides a full Audit trail for internal and external Auditors
Facilitates strong supplier relationships protecting your supply chain