Predict your cost and time savings with BEST (A detailed guide)

Reconciliation automation is a necessity for businesses seeking to streamline operations and remain competitive. 

Manual reconciliations can be time-consuming and error-prone, impacting your bottom line in more ways than one. But how do you quantify the value of automating this process?

This blog offers a detailed framework for calculating the potential savings you could achieve using BEST’s automated in-SAP modules. 

With the help of our new business case calculators, you can see just how much time, money, and resources your organisation can save. From vendor reconciliations to balance sheet reconciliations, we’ll walk you through the metrics that matter most.

The case for automating your reconciliations

Manual reconciliations often require significant time investment from your finance team, which translates into higher labour costs, delayed financial reporting, and an increased risk of errors. 

By automating this process with BEST’s in-SAP modules, businesses can see substantial time and cost savings—improving efficiency and freeing up resources for more strategic activities. 

Here’s how to predict your savings with our interactive tools: 

Calculate your savings with the vendor recons business case calculator

Calculate the benefits of BEST’s Vendor Recons Module:

Our tool helps you quantify the positive impact and savings gained by automating vendor reconciliations with BEST in-SAP. See your potential time and cost savings achieved by our vendor recons module.

Use business case calculator

With BEST’s vendor recons business case calculator, you can gain a clear understanding of the financial impact of automating vendor reconciliations. 

The calculator is designed to estimate key benefits such as:

• Estimated cost savings: Discover how much you can save on labour costs by reducing manual effort in reconciliations.
• Estimated time savings: See how automation can drastically reduce the time your team spends on vendor reconciliations.
• Additional quantifiable benefits: Identify other measurable advantages, such as improved payment cycles and better supplier relationships.
• Tacit benefits: Consider the indirect benefits, like enhanced job satisfaction for your finance team due to reduced repetitive tasks.

Ready to see how much you can save? Use business case calculator

Benefits of automated reconciliation with BEST’s vendor recons module:

• 95%+ statement matching rates: Reduce discrepancies and automate matching with high accuracy.
• Complete visibility into accounts payable: Maintain transparency across all vendor transactions.
• Always compliant and audit-ready: Ensure continuous compliance with regulatory standards.
• Tighter cash flow control: Monitor cash flows in real-time for more informed decision-making.
• Real-time accuracy: Eliminate delays in vendor payments with instant reconciliation.

Evaluate your gains with the balance sheet recons value predictor

Calculate the benefits of BEST’s balance sheet recons module: 

Our tool helps you quantify the positive impact and savings gained by automating balance sheet reconciliations with BEST in SAP. See the benefits of automating your balance sheet reconciliations.

Use value predictor

Automating balance sheet reconciliations allows you to gain deeper control and insight into your organisation’s financial health. Our balance sheet recons value predictor provides you with the following:

• Detailed cost-benefit analysis: Understand the full financial impact of moving away from manual reconciliations.
• Insights into enhanced accuracy: Learn how automated reconciliation minimises errors and discrepancies, improving the reliability of your financial data.
• Evaluation of time savings and efficiency: See the reduction in time spent on reconciliations and how it translates into faster reporting and analysis.

Ready to calculate your savings? Use value predictor

Benefits of automated balance sheet recons:

• Always audit-ready: Maintain real-time audit trails and documentation for every reconciliation.
• Deeper financial controls: Automate account monitoring to ensure balance sheet integrity.
• Complete visibility into balance sheet integrity: Gain a comprehensive view of your financial standing, enabling strategic decisions.
• 40% of low-risk accounts automatically processed: Customers report that 40% of no-movement and low-risk accounts are automatically checked and approved by BEST, reducing manual intervention.
• Tighter governance: Enhance control over your financial reporting with automated processes that align with internal and external audit standards.

Transform your reconciliation process with BEST

In conclusion, automating your reconciliations is more than just a way to save time—it’s a strategic move that positions your organisation for long-term growth. By using BEST’s in-SAP modules, businesses can streamline their financial close process, enhance accuracy, and achieve audit readiness with ease.

Don’t just take our word for it—see the numbers for yourself with our interactive sales calculators. Whether you’re looking to automate vendor reconciliations or balance sheet processes, our tools provide a clear path to quantifying your return on investment.

Ready to transform your reconciliation process and unlock new efficiencies? Calculate your potential savings with BEST’s tools today!

Book a demo | Use vendor recons calculator | Use balance sheet value predictor