Creditor Statement Matching in SAP is possible with BEST!

Creditor Statement Matching in SAP. BEST News – March 2018

BEST Happenings:

  • AP Managers using BEST for Creditor Statement Matching in SAP locally were invited with representatives to attend the first User Group in September 2017 at 10 Bompas Hotel in Johannesburg.
  • It was a great opportunity for networking with other BEST clients over a relaxed breakfast and learning about new functionality available from the BEST team. We covered the latest Support Packs, Developments in the Fiori and Hana space and modules BEST Statement Reader and BEST Statement Portal.
  • We had representation from: Afgri, Philafrica, Daybreak, Afrisam, AngloGold Ashanti, Debswana, Dis-Chem, Exxaro, Gold Fields, Italtile, JD Group, Kansai Plascon, Massbuild, Netcare, PPC, Senwes, Sibanye-Stillwater, Transnet, UMS, Vodafone. Thank you for attending!
  • Feedback on the User Group was very positive and we look forward to our next session with you. This is planned for last quarter 2018. More information will be shared closer to the time. For any queries or suggestions please contact Liza Reyneke –[email protected]

BEST Projects:

  • The BEST Client base grew by 20% in 2017 –expanding our client footprint to Ireland, India and Albania.
  • We welcome new clients: Liberty Life, Mediclinic, Dimension Data and Eskom –their BEST implementations are currently underway.
  • For a demonstration on new functionality please contact us –we can also assist with a free Business Case!
  • If you know a company who can benefit from BEST –please let us know: [email protected]

BEST & SA VAT Change:

  • The VAT rate change in South Africa to 15% on 1 April 2018 has implications for SAP finance systems.
  • However, it does not impact BEST and reconciliations.
  • VAT mostly doesn’t appear on a supplier statement, and if it does, it is not loaded into BEST.
  • The gross amount including VAT is what appears on statement lines, and this is loaded and matched to the gross amounts in SAP. The VAT amount is not differentiated.
  • Different VAT rates used in different countries or zero rated VAT supplies is inherently catered for in BEST as it is the gross amount that is reconciled.
  • If you have a support query –please contact us: [email protected]

BEST Health Checks:

  • BEST Health Checks
  • Are you getting high automated matching rates in BEST -90% plus?
  • Are you loading statements into BEST quickly and efficiently via automated reading or uploads?
  • Are you saving time in your AP reconciliation process and focusing on issue/query resolution?
  • Are you improving your AP communication with suppliers with automated reminders/ messaging?
  • Is your AP supplier reconciliation process better managed and using the latest reporting available?•Are you saving money due to automation and less paper handling?
  • BEST offers free Health Check reviews to assess utilisation and opportunities for improvement. If you are due a Health Check please contact us – [email protected]

BEST Development:

  • BEST constantly improves our products and the new Support Pack Release 4 delivers a host of improvements and fixes.
  • 15 New Features, 23 Enhancements, 12 Fixes to be exact!
  • BEST has recently been certified for S/4Hana 1610. This means that any of our clients who are moving onto the S/4Hana 1610 platform will be catered for once upgraded to R4SP00. BEST is also S/4Hana 1511 certified as of R3SP00.
  • BEST has also been re-certified for SAP NetWeaver 740 so we have a single product for all SAP platforms.
  • Please see the attached Support Pack detail and let us know if you can benefit or need our assistance given a planned SAP upgrade – [email protected]

Download the Full Newsletter for March 2018 here

Download BEST Release Notes for Release 4 – Support pack 1 here