“Reduction in reconciliation time is phenomenal. As an example, we have reduced the processing time of a 100-page statement from 3 or 4 hours to 15 minutes (load, matching and recon). The focus is now on what is actually outstanding, the invoices needing to be requested from the supplier and making sure queries are resolved. 90% of our accounts and majority of our reconciliations are done through the BEST system.”

Shamima Ranchod

AP Manager

AfriSam optimises their vendor reconciliations process from 4 hours to 15 mins per statement

As a leading African building materials producer, AfriSam achieved a dramatic reduction in vendor reconciliation times from 4 hours to 15 minutes per statement by implementing BEST’s integrated automation.

AfriSam

As a leading African building materials producer, AfriSam sought to shift from manual, siloed vendor reconciliation processes towards integrated automation within their SAP landscape. By implementing BEST’s reconciliation module in 2013, AfriSam achieved this goal with dramatic time savings and visibility.

Our approach

  • Integrating AfriSam’s scanning solution.
  • Attaching the original PDF statement from the vendor to the BEST statement key so the AP Clerk is able to quickly find statements.
  • Automating recons through BEST Recon system.
  • Implementing a full process flow and reconciliation from statement right through to payment.
  • Introduce accurate automatic matching.

Results

  • Time-saving with BEST – 4 hours to 15 minutes.
  • Statement load in BEST – 26,000 lines over 3 months.
  • 93% automatic matching in BEST.

Prior to BEST, AfriSam followed a manual process, which was time-consuming. Following the implementation of BEST’s solution, our workflow is now automated. The clerks no longer need to look for papers or physical statements; all they need to do is ensure that they load the statement in the best way possible. Once the statement is loaded, they run the reconciliation report. This is an automatic process, as automatic matching was already completed. It provides the reconciliation with our pre-defined categories and according to our specific requirements.

What previously took multiple hours per statement is now completed in a quarter of an hour with the click of a button. As per Shamima, “The clerks are now able to focus and concentrate on true problems or discrepancies.” Enhanced focus on critical action items drives working capital gains.

Beyond efficiency, BEST also enables the centralisation of previously scattered records along with digital accessibility for auditors. Quantifiable time and cost savings realised rapid ROI within two years of BEST’s 2013 implementation.

After nearly a decade of strong collaboration, integrated reporting, and continuous optimisation, BEST remains a pillar of procure-to-pay automation at AfriSam.