BEST GL Recons vs 3rd Party GL Solutions

BEST GL Recons vs 3rd Party GL Solutions

Common GL Recon Functionality

  • Automated GL Reconciliations
  • Recon Approval & Audit Trail
  • Reconciliation Notes & Attachments
  • Management & Exception Reporting
  • Automated Approvals
  • Open Item Clearing
  • Automated Rejections
  • Posting of Adjustments

Common GL Recon Functionality

  • Automated GL Reconciliations
  • Recon Approval & Audit Trail
  • Reconciliation Notes & Attachments
  • Management & Exception Reporting
  • Automated Approvals
  • Open Item Clearing
  • Automated Rejections
  • 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 Interfaces required Transactional data to be interfaced and duplicated in 3rd party system
Real Time – no updates requiredNot real time – updates required
Adjustments are made directly in transactional system (SAP)Adjustments need to be interfaced to transactional system
Clearing is done directly in transactional system (SAP)Clearing has to be recreated in SAP to keep statuses in sync
Use existing SAP Authorisations with additional BEST rolesAdditional authorisations to be created for 3rd party system
Existing SAP logons and system used for GL ReconsAdditional system to log into for managing recons
BEST GL tools look and feel like SAP and can be easily used by existing SAP usersNew system requires all new training and learning of a foreign system by user community
SAP reports can be attached directly from spool list therefore no is printing requiredData confidentiality concerns with financial transactional data stored in 3rd party system
Additional module to reconcile vendor statements directly in SAP. Statements can be loaded into SAP in many ways, via OCR, iDOCs, web tools etc. Full vendor reconciliation functionality directly in SAP including approvals, audit trails, matching to SAP data like vendor line items, parked, held, GRIR and also invoice automation tools like OpenText’s Vendor Invoice Management.No proper vendor statement matching and reconciliation functionality – merely a comparison of two lists outside SAP.
SAP certified by the SAP ICC (Integration Certification Centre) as an add-on directly in SAP itself.Either not SAP certified or certified to interface 3rd party system outside of SAP.
Reasonably Priced 

BEST GL
FUNCTIONALITY

All functionality in SAP – no Interfaces required
Real Time – no updates required
Adjustments are made directly in transactional system (SAP)
Clearing is done directly in transactional system (SAP)
Use existing SAP Authorisations with additional BEST roles
Existing SAP logons and system used for GL Recons
BEST GL tools look and feel like SAP and can be easily used by existing SAP users
SAP reports can be attached directly from spool list therefore no is printing required
Additional module to reconcile vendor statements directly in SAP. Statements can be loaded into SAP in many ways, via OCR, iDOCs, web tools etc. Full vendor reconciliation functionality directly in SAP including approvals, audit trails, matching to SAP data like vendor line items, parked, held, GRIR and also invoice automation tools like OpenText’s Vendor Invoice Management.
SAP certified by the SAP ICC (Integration Certification Centre) as an add-on directly in SAP itself.
Reasonably Priced

OTHER THIRD PARTY
SOLUTIONS

Transactional data to be interfaced and duplicated in 3rd party system
Not real time – updates required
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
No proper vendor statement matching and reconciliation functionality – merely a comparison of two lists outside SAP.
Either not SAP certified or certified to interface 3rd party system outside of SAP.