BEST GL Recons vs 3rd Party GL Solutions
BEST GL Recons vs 3rd Party GL Solutions
Common GL Recon Functionality
![]() | Automated GL Reconciliations | ![]() | Reconciliation Notes & Attachments | ![]() | Automated Approvals | ![]() | Automated Rejections |
![]() | Recon Approval & Audit Trail | ![]() | Management & Exception Reporting | ![]() | Open Item Clearing | ![]() | Posting of Adjustments |
Common GL Recon Functionality
![]() | Automated GL Reconciliations | ![]() | Reconciliation Notes & Attachments |
![]() | Automated Approvals | ![]() | Automated Rejections |
![]() | Recon Approval & Audit Trail | ![]() | Management & Exception Reporting |
![]() | Open Item Clearing | ![]() | Posting of Adjustments |
Common GL Recon Functionality
Automated GL Reconciliations
Reconciliation notes & attachments
Automated Approvals
Automated Rejections
Recon Approval & Audit Trail
Management & Exception Reporting
Open Item Clearing
Posting of Adjustments
BEST GL
FUNCTIONALITY
OTHER THIRD PARTY
SOLUTIONS
![]() | All functionality in SAP – no interface required | ![]() | Transactional data to be interfaced and duplicated in 3rd party system |
![]() | Real Time – no updates required | ![]() | Not real time – updates required |
![]() | No need to recreate existing SAP Standard Functionality i.e. Journal Postings, Authorisation, Closing Cockpit | ![]() | In house solutions required to be created to replicate pre-existing SAP Standard solutions |
![]() | Adjustments are made directly in transactional system (SAP) | ![]() | Adjustments need to be interfaced to transactional system |
![]() | Clearing is done directly in transactional system (SAP) – no interfaces or status syncing between SAP and Reconciliation system | ![]() | Clearing has to be recreated in SAP to keep statuses in sync |
![]() | Use existing SAP authorisations with additional BEST roles | ![]() | Additional authorisations to be created for 3rd party system |
![]() | Existing SAP logons and system used for BEST GL Modules | ![]() | Additional system to log into for managing recons |
![]() | BEST GL Modules look and feel like SAP and can be easily used by existing SAP users | ![]() | New system requires all new training and learning of a foreign system by user community |
![]() | SAP reports can be attached directly from spool list – no printing required | ![]() | Data confidentiality concerns with financial transactional data stored in 3rd party system |
![]() | 3 way Bank Recon check – GL Balance to SAP Statement Table Balance to Physical Bank Statement | ![]() | Requires remote access and related controls to access SAP System Data |
![]() | Drill down capability into source transactions directly from Reconciliation Reports | ![]() | Requires remote access and related controls to access SAP System Data |
![]() | Real Time Inter Company specific solutions to cater for high volume complex Inter Company relationships. SAP Standard Organisational Units are inherently embedded in solution. | ![]() | Extract driven solutions that are not real time |
![]() | Compliance and Risk Control managed by Management Reporting | ![]() | 3rd Party systems exist outside of SAP Authorisation and inherent SAP Compliance & Audit Controls |
![]() | All Historic Reconciliations and Approval Audit History available online all the time within SAP system | ![]() | Historic Recons are not in SAP and require login to 3rd Party system |
![]() | Reasonably Priced | ![]() | High Pricing Model dependent on 3rd Party Product |
![]() | Product implementation and upgrades are managed via Customer SAP Deployment Methodology | ![]() | Implementation and Upgrades are managed outside of Customer SAP Deployment Methodology |
![]() | BEST is a SAP Development Partner and BEST Products are annually Certified with SAP on the latest product version | ![]() | SAP Partner relationship dependent per 3rd Party Product |
BEST GL
FUNCTIONALITY
![]() | All functionality in SAP – no interface required |
![]() | Real Time – no updates required |
![]() | No need to recreate existing SAP Standard Functionality i.e. Journal Postings, Authorisation, Closing Cockpit |
![]() | Adjustments are made directly in transactional system (SAP) |
![]() | Clearing is done directly in transactional system (SAP) – no interfaces or status syncing between SAP and Reconciliation system |
![]() | Use existing SAP authorisations with additional BEST roles |
![]() | Existing SAP logons and system used for BEST GL Modules |
![]() | BEST GL Modules look and feel like SAP and can be easily used by existing SAP users |
![]() | SAP reports can be attached directly from spool list – no printing required |
![]() | 3 way Bank Recon check – GL Balance to SAP Statement Table Balance to Physical Bank Statement |
![]() | Drill down capability into source transactions directly from Reconciliation Reports |
![]() | Real Time Inter Company specific solutions to cater for high volume complex Inter Company relationships. SAP Standard Organisational Units are inherently embedded in solution. |
![]() | Compliance and Risk Control managed by Management Reporting |
![]() | All Historic Reconciliations and Approval Audit History available online all the time within SAP system |
![]() | Reasonably Priced |
![]() | Product implementation and upgrades are managed via Customer SAP Deployment Methodology |
![]() | BEST is a SAP Development Partner and BEST Products are annually Certified with SAP on the latest product version |
OTHER THIRD PARTY
SOLUTIONS
![]() | Transactional data to be interfaced and duplicated in 3rd party system |
![]() | Not real time – updates required |
![]() | In house solutions required to be created to replicate pre-existing SAP Standard solutions |
![]() | Adjustments need to be interfaced to transactional system |
![]() | Clearing has to be recreated in SAP to keep statuses in sync |
![]() | Additional authorisations to be created for 3rd party system |
![]() | Additional system to log into for managing recons |
![]() | New system requires all new training and learning of a foreign system by user community |
![]() | Data confidentiality concerns with financial transactional data stored in 3rd party system |
![]() | Requires remote access and related controls to access SAP System Data |
![]() | Requires remote access and related controls to access SAP System Data |
![]() | Extract driven solutions that are not real time |
![]() | 3rd Party systems exist outside of SAP Authorisation and inherent SAP Compliance & Audit Controls |
![]() | Historic Recons are not in SAP and require login to 3rd Party system |
![]() | High Pricing Model dependent on 3rd Party Product |
![]() | Implementation and Upgrades are managed outside of Customer SAP Deployment Methodology |
![]() | SAP Partner relationship dependent per 3rd Party Product |