Builders achieves 96,5% automatic matching rate with BEST Vendor Recons

Mohammed Bodiat presented on how the BEST Vendor Recons module has been used at Builders since 2016 in their Accounts Payable department.

Builders forms part of Massmart Holdings

Builders is a corporate retail brand representing Massmart/Walmart in the home improvement products and building material sector.

The division comprises of four complementary brands namely Builders Warehouse, Builders Express, Builders Trade Depot and Builders Superstore.

Collectively these brands offer the largest range of quality products and services for the small to large building and maintenance contractor, home improvement and DIY enthusiast as well as garden or any other DIY related projects.

Accounts Payable transactions dealt with by the Builders AP Team

• All invoices are captured via ReadSoft by the teams within Builders AP
• Over 120,000 invoices received per month
• 30 AP Team members are split into Trade and GNFR
• Cover four countries, different currencies and cross border payments

Benefits achieved with BEST Vendor Recons at Builders

  • Mass data processing is performed by the system allowing personnel to report and chase exceptions.
  • More proactive management of our suppliers.
  • Improved relationship with our suppliers.
  • Reduced risk of errors and fraud.
  • We can now produce integrated reports.

Cost savings achieved given BEST

  • Reduced printing of SAP open items.
  • Attach statements to recons directly in the BEST system.
  • Email BEST Recons and Remittance advices to multiple users as required.

Builders measures the below with BEST Vendor Recons

  • Number of Level 1 recon approvals.
  • Statement load time.
  • Outstanding ageing. Invoices and Credit Notes/claims.
  • Peak periods. Loading and approving level 2 recons.

Download the BEST Case Study – Builders AP.

Find out more on how to automate your vendor reconciliations directly in SAP with BEST Vendor Recons.

Contact BEST for a Business Case and realise the benefits that Builders and other AP teams are enjoying with BEST Vendor Recons in SAP.