This is precisely what Statement-Matching intends to change. With the aim to enable a high return on investment, reduce costs and time, while also increasing organizational efficiency, Statement-Matching is squarely focused on one of the essential aspects of AP–supplier statement reconciliation. While supplier statement reconciliation has been the ultimate control for AP to ensure their AP ledgers and liabilities are accurate for financial reporting, most of the organizations continue to rely on time-consuming and error-prone manual processing that might impact their supplier relationships. If AP could routinely reconcile their top supplier accounts, proactively on a monthly basis, then all the errors would be resolved on a timely basis.

As businesses make this shift from being reactive to proactive, Statement-Matching stands at the forefront, empowering them with a solution that automates supplier statements–Excel, paper, or PDF–reconciliation and saves time and money. Eradicating the need to comb through AP statements one-by-one, Statement-Matching’s automated solution reconciles the statements and provides businesses with a preventive approach by quantifying errors, flagging vendor-related root problems, and efficiently solving them in no-time.

“We enable customers to reconcile high volumes of statements. We automate the process, thereby enabling accounts payable to focus on the exceptions,” says Ian McBeath, Director at Statement-Matching. With its cloud-based solution, the company leverages leading edge technology to identify errors before they become more costly issues–a proactive step towards driving continuous improvement.

With roots that date back to 2013, Statement-Matching is one of the few firms that accepts supplier statements in any format and automates them in its cloud software involving no involvement of the AP team. Designed to store data from multiple ERP and add-on systems, the company has opened rooms for large shared service center customers with crosscompany code and cross-system matching available as standard. Also, the company’s long history working in process improvement gave them firsthand experience to drive development of the solution based on input from real users, which they continue to this day. Be it reconciling statements across multiple vendor accounts for the same vendor or merging multiple statements from the same supplier to reconcile as one, Statement-Matching can do it all.

To begin with, the process involves customers securely pushing their daily ERP files to Statement-Matching for automated reconciliation. Suppliers can submit their statements–as Excel or PDF attachments–via mails, which are imported automatically to Statement-Matching, with “no touch,” by AP.