General

Supplier statement reconciliation is an important accounts payable control, but it can become extremely time-consuming when statements are received in different formats and checked manually against ERP data.

For each supplier, the accounts payable team must collect the latest statement, compare every line with the supplier account, identify missing invoices or credit notes, and investigate any differences. When this is managed through spreadsheets, email and downloaded ledger data, it can be difficult to maintain consistent coverage across a large supplier base.

Automated supplier statement reconciliation software reduces this workload by capturing statement data, matching it against accounts payable transactions and presenting genuine exceptions for investigation.

In this article, we compare five supplier statement reconciliation tools, including specialist SAP functionality and broader accounts payable platforms.

What are the best tools for supplier statement reconciliation?

Five supplier statement reconciliation tools to consider are:

1. The BEST Vendor Recons module
2. HighRadius Supplier Statement Reconciliation
3. Xelix Statement Reconciliation
4. Medius Statement Reconciliation
5. Basware Statement Matching

For organisations using SAP, the BEST Vendor Recons module is the strongest specialist option because it supports statement capture, matching, reconciliation, approval and reporting within the existing SAP environment.

HighRadius, Xelix, Medius and Basware provide alternatives for organisations that want supplier statement reconciliation within a broader accounts payable platform or across several ERP systems.

Quick recommendations

• Best overall for SAP finance teams: The BEST Vendor Recons module
• Best as part of a broader AP automation platform: HighRadius
• Best for combining reconciliation with AP risk controls: Xelix
• Best for existing Medius users: Medius
• Best for organisations operating across multiple ERPs: Basware

Disclosure: BEST publishes this comparison and provides the BEST Vendor Recons module. The article distinguishes between documented product capabilities and our assessment.

Last reviewed: July 2026

Supplier statement reconciliation tools at a glance

Tool	Best suited to	Operating model	Main advantage	Potential limitation
BEST Vendor Recons module	Medium and large organisations using SAP	SAP add-on module operating within SAP	Covers statement capture, matching, exceptions, approval and reporting within SAP	Designed specifically for organisations using SAP
HighRadius	Organisations seeking a broader AP automation platform	External platform connected to the ERP	Combines supplier statement reconciliation with other AP capabilities	May offer more platform functionality than a focused reconciliation project requires
Xelix	AP teams seeking reconciliation and risk controls	External AP control platform	Combines statement reconciliation with duplicate payment and AP risk detection	Buyers should assess the data transfer and ERP integration model
Medius	Organisations using or considering the Medius AP platform	External AP automation platform	Statement reconciliation sits alongside wider invoice and AP automation	Most relevant where the wider Medius platform is also required
Basware	Organisations operating across several ERP systems	Cloud platform connected to ERPs	Supports statement matching across different systems and formats	SAP teams should compare its multi-ERP model with an SAP-embedded option

Pricing is generally based on the organisation, transaction volumes, modules and implementation requirements. Buyers should request a current quotation from each shortlisted provider.

Which tool is best for each requirement?

The best supplier statement reconciliation software depends on the ERP environment, the size of the supplier base and whether the organisation needs a focused module or a broader AP platform.

Requirement	Most relevant option
Supplier statement reconciliation within SAP	BEST Vendor Recons module
Broader accounts payable automation	HighRadius
Reconciliation combined with AP risk monitoring	Xelix
Existing Medius AP environment	Medius
Reconciliation across multiple ERP systems	Basware
SAP authorisations and approvals	BEST Vendor Recons module
Automated statement collection from email	BEST Vendor Recons module, subject to configuration
Multi-company and shared service centre requirements	Assess BEST, HighRadius, Medius and Basware against the organisation’s structure

This distinction is important because not every organisation needs a large accounts payable platform. If the main requirement is supplier statement reconciliation within SAP, a focused SAP add-on module may provide a closer fit.

How we evaluated the tools

The tools were compared using criteria relevant to accounts payable teams introducing supplier statement reconciliation automation:

• Statement collection and document processing
• Support for common statement formats
• Matching against accounts payable transactions
• Identification of missing invoices, credit notes and payments
• Exception investigation
• Approval controls
• ERP integration
• Reporting and audit evidence
• Suitability for SAP finance teams
• Wider accounts payable capabilities

Product functionality, packaging and integrations can change. Buyers should confirm their essential requirements through a current product demonstration and test each tool using representative supplier statements.

What is supplier statement reconciliation?

Supplier statement reconciliation is the process of comparing a statement received from a supplier with the organisation’s accounts payable records.

The purpose is to confirm that both parties have recorded the same invoices, credit notes, payments and outstanding balances. Any differences must be identified and investigated before they lead to late payments, duplicate payments, missed credits or supplier queries.

Common discrepancies include:

• An invoice appearing on the supplier statement but not in the ERP
• A credit note that hasn’t been recorded or allocated
• A payment that the supplier hasn’t applied
• Duplicate or incorrectly recorded transactions
• Timing differences between the two sets of records
• An incorrect opening or closing balance

The process provides an independent check of the accounts payable ledger because it compares internal ERP data with records supplied by the vendor.

SAP provides a Vendor Statement report for displaying vendor balances and open items. However, finance teams may still need additional functionality to compare this information with statements received directly from suppliers.

Why automate supplier statement reconciliation?

Manual reconciliation often requires users to download supplier account data, copy it into a spreadsheet and compare each line against a statement. The team must then record differences, contact suppliers or internal stakeholders and retain evidence of the completed reconciliation.

This may be manageable for a small number of suppliers. It becomes harder to maintain when the organisation has thousands of vendors, multiple company codes or a shared service centre responsible for several countries.

Supplier statement reconciliation automation can help teams:

• Process more supplier statements
• Reduce manual line-by-line matching
• Identify missing invoices and credit notes sooner
• Monitor which supplier statements haven’t been received
• Apply a consistent reconciliation process
• Improve visibility over outstanding exceptions
• Maintain clearer preparation and approval records
• Reduce reliance on separate spreadsheets and email chains

Research from the Financial Reporting Council on AI in corporate reporting identifies data extraction, reconciliation and anomaly detection as areas where automation is already being used to improve efficiency and review processes. The research also highlights the importance of defined accountability, validation and human oversight.

Automation doesn’t remove the need for accounts payable judgement. It handles reliable matches and allows users to focus on exceptions that require investigation.

The best supplier statement reconciliation tools

1. The BEST Vendor Recons module

Best for: Medium and large organisations that want to automate supplier statement reconciliation within SAP.

The BEST Vendor Recons module automates the collection, matching, reconciliation and approval of supplier statements within SAP.

The module compares supplier statement lines with accounts payable transactions held in SAP. Matching items can be processed automatically, while missing invoices, credit notes and other discrepancies are presented for review.

Statements can be received in PDF or Excel format and loaded using the BEST Statement Reader. Depending on the organisation’s configuration, the reader can monitor an email inbox, detach statement files, extract the required data and load it into the reconciliation process. The original supplier statement can also be retained for viewing from SAP.

The BEST Vendor Recons module can support the following:

• Automated matching of supplier statement lines against SAP transactions
• Identification of missing invoices, credit notes and other discrepancies
• Suggested matches for unmatched items
• Tracking of missing supplier statements
• Reporting across suppliers, company codes and reconciliation statuses
• Multiple approval levels based on SAP authorisations
• Vendor accrual calculations
• Retention of statements, comments, reconciliations and approval records
• Visibility over completion, exceptions and outstanding work

Because the process operates within SAP, users can work with existing SAP data, transactions and authorisations. Organisations don’t need to create a separate reconciliation environment with its own copied data, user access and audit history.

This makes the module particularly relevant for SAP finance teams that currently export vendor data and complete reconciliations through spreadsheets or external tools.

For an example of how the process can be applied across an international finance operation, read about supplier statement reconciliation across multiple countries.

SAP fit: Very high for organisations that want the reconciliation process to remain within SAP.

Potential limitation: The BEST Vendor Recons module is intended for organisations using SAP. It isn’t designed as a general AP platform for businesses operating entirely outside SAP.

2. HighRadius Supplier Statement Reconciliation

Best for: Organisations seeking supplier statement reconciliation within a broader accounts payable automation platform.

HighRadius Supplier Statement Reconciliation forms part of the company’s wider accounts payable automation offering.

The software extracts supplier statements received through email, compares the statement data with the supplier ledger and identifies missing or mismatched invoices and credit notes. It can also create tasks for accounts payable users and produce reconciliation summaries.

HighRadius may be suitable where supplier statement reconciliation is one part of a wider AP automation project. Organisations should consider which other platform capabilities they require, how the system connects with their ERP and where users will investigate and resolve exceptions.

SAP fit: Relevant for organisations prepared to use an external platform connected to SAP.

Potential limitation: Its broader platform scope may be more than an organisation needs when the requirement is limited to supplier statement reconciliation.

3. Xelix Statement Reconciliation

Best for: Accounts payable teams seeking supplier statement reconciliation alongside additional AP controls.

Xelix Statement Reconciliation uses AI to read supplier statements and compare them with accounts payable data.

The software is designed to help teams reconcile more supplier accounts without manually matching every statement line in a spreadsheet. Statement reconciliation forms part of a wider AP control platform covering areas such as duplicate payment prevention and risk analysis.

This may make Xelix relevant for organisations looking to strengthen several accounts payable controls through one external platform.

Buyers should establish how often ERP data is transferred, how exceptions are managed and where the completed reconciliation and supporting evidence are retained.

SAP fit: Relevant where its available integration model meets the organisation’s SAP, security and data requirements.

Potential limitation: The process operates through an AP control platform rather than as specialist functionality within SAP.

4. Medius Statement Reconciliation

Best for: Organisations already using Medius or considering a wider Medius accounts payable implementation.

Medius Statement Reconciliation uses AI to match supplier statements against accounting records and identify missing or mismatched invoices.

The capability is part of the wider Medius accounts payable automation platform. It may therefore be most relevant where the organisation also wants to automate invoice processing and related AP activities.

SAP teams should confirm how data moves between Medius and SAP, where exceptions are resolved and how reconciliation evidence is accessed during reviews and audits.

SAP fit: Relevant for organisations using a Medius platform connected to SAP.

Potential limitation: It may be less suitable when the organisation wants a focused supplier reconciliation module operating within SAP.

5. Basware Statement Matching

Best for: Organisations operating several ERP systems or already using Basware for accounts payable automation.

Basware Statement Matching is a cloud-based solution designed to automate supplier statement reconciliation across different document formats and ERP systems.

The software compares supplier statements with accounts payable records and highlights exceptions. It can help organisations identify missing credits and other differences that may otherwise remain unresolved.

Its multi-ERP positioning can be useful for businesses that need one process across several finance systems. SAP finance teams should compare this flexibility with a module that operates directly within SAP.

SAP fit: Relevant for organisations seeking an external platform across SAP and other ERP systems.

Potential limitation: Organisations using SAP as their central finance system may prefer to keep reconciliation, approval and reporting within SAP.

BEST versus external supplier reconciliation platforms

The main difference is where the reconciliation process takes place.

Requirement	BEST Vendor Recons module	External reconciliation platform
Uses SAP transaction data	Directly within SAP	Usually transferred or connected from SAP
User access	Based on SAP access and authorisations	Separate platform access may be required
Statement matching	Supported	Commonly supported
Exception investigation	Managed within the SAP-based process	Managed through the external platform
Approval workflow	Uses SAP-based authorisations	Uses platform-specific workflows
Reconciliation record	Retained within SAP	Usually retained in the external platform
Multi-ERP use	Focused on SAP	Often designed for several ERPs
Wider AP platform functions	Focused supplier reconciliation module	May include invoice automation, controls or supplier portals

Neither approach is automatically right for every organisation. The choice depends on whether the business wants an external AP platform across several systems or a focused reconciliation process within SAP.

What should supplier statement reconciliation software do?

A suitable solution should support the process from statement collection through to approval and reporting.

Capture statements in different formats

Suppliers may send statements as PDFs, spreadsheets, scans or structured data files. The software should process the formats used by the supplier base without extensive manual preparation.

Teams should also establish whether statements can be collected automatically from an inbox or supplier portal, and how the system handles unreadable or incomplete files.

Match statement lines against AP records

The system should compare invoices, credit notes, payments and balances on the statement with the corresponding accounts payable transactions.

Reliable matches should be processed automatically. Items that don’t meet the required matching criteria should be separated for investigation.

Identify missing documents and discrepancies

Supplier statement reconciliation software should clearly identify missing invoices, missing credit notes, unallocated payments, duplicated items and balance differences.

The output should make it easy for the user to understand why an item remains unmatched and what action is required.

Manage exceptions

A high automatic match rate is useful, but finance teams still need an effective exception process.

Check whether users can review possible matches, record comments, assign responsibility and retain a clear history of how each discrepancy was resolved.

Support preparation and approval controls

The reconciliation record should show who prepared, reviewed and approved the reconciliation, together with the date and status of each action.

Approval levels should be configurable around the organisation’s existing financial controls.

Provide reporting and audit evidence

Finance managers should be able to monitor:

• Statements received and still outstanding
• Reconciliations completed
• Automatic match rates
• Unresolved exceptions
• Approval status
• Supplier and company-code coverage

The original statement, matched items, comments, exceptions and approvals should remain available for review and audit.

How does automated supplier statement reconciliation work?

The process generally follows five stages:

1. Supplier statements are collected from email, uploads, portals or electronic data feeds.
2. The relevant statement data is extracted and prepared for processing.
3. Statement lines are compared with accounts payable transactions held in the ERP.
4. Reliable matches are processed automatically, while missing or inconsistent items are presented as exceptions.
5. Users investigate the exceptions, complete the reconciliation and submit it for approval.

The accounts payable team no longer needs to tick every statement line against downloaded ledger data. Users can concentrate on missing documents, balance differences and other items requiring action.

Read more about the differences between manual and automated supplier statement reconciliation.

How to choose supplier statement reconciliation software

Decide whether you need a focused module or a broader platform

A broader AP platform may be suitable if the organisation wants to automate several processes, such as invoice handling, supplier portals, duplicate payment detection and statement reconciliation.

A focused module may be more appropriate when supplier statement reconciliation is the main requirement and the organisation wants a closer fit with its existing ERP processes.

Establish where users should work

Consider where users will:

• View supplier statements
• Investigate source transactions
• Resolve discrepancies
• Record comments
• Submit reconciliations
• Complete approvals
• Access audit evidence

For SAP teams, this means deciding whether users should complete the process within SAP or move between SAP and a separate platform.

Review the complete statement process

Matching is only one part of supplier statement reconciliation. The evaluation should also cover statement collection, missing-statement tracking, exception management, approval and reporting.

A tool that matches statement lines but leaves the other stages manual may only solve part of the problem.

Test the software with genuine supplier statements

Provide each shortlisted vendor with representative statements covering:

• Different formats and layouts
• High-volume supplier accounts
• Missing invoices and credit notes
• Payments and allocation differences
• Multi-company requirements
• Poor-quality files
• Foreign currencies
• Common exception scenarios

This gives the finance team a more accurate view of document-reading performance, matching results and the effort required to handle exceptions.

When is the BEST Vendor Recons module the right choice?

The BEST Vendor Recons module is most relevant when SAP is the organisation’s central finance system and supplier statement reconciliation is still dependent on spreadsheets, email or downloaded transaction data.

Consider the BEST Vendor Recons module when:

• Supplier statements are reconciled manually
• Finance teams must download SAP data into spreadsheets
• Statement collection takes significant time
• Missing invoices and credit notes are identified too late
• The organisation needs visibility across suppliers and company codes
• Reconciliation approvals should use SAP authorisations
• Statements and supporting evidence should remain accessible within SAP
• The business operates a shared service centre or processes high statement volumes

The module may not be the right fit when:

• The organisation doesn’t use SAP
• One external AP platform is required across several unrelated ERP systems
• Supplier statement reconciliation is only a small part of a wider invoice automation project
• The organisation is primarily looking for procurement or supplier-management software

Frequently asked questions

Can supplier statement reconciliation be automated?

Yes. Supplier statement reconciliation software can capture statement data, compare it with accounts payable transactions, process reliable matches and identify exceptions. Users then investigate the remaining discrepancies instead of checking every statement line manually.

What is automated supplier statement reconciliation?

Automated supplier statement reconciliation is the use of software to compare supplier statements with an organisation’s accounts payable records. The software matches corresponding transactions and identifies missing invoices, credit notes, payments or balance differences.

What is the best supplier statement reconciliation software for SAP?

The BEST Vendor Recons module is a specialist option for SAP finance teams. It supports statement collection, matching, exception investigation, reconciliation, approval and reporting within the SAP environment.

Other tools may be more suitable when the organisation needs a wider accounts payable platform or one external system across several ERPs.

Does SAP automatically reconcile supplier statements?

Standard SAP provides the accounts payable transaction data required for reconciliation, but many organisations still compare supplier statements through spreadsheets or external processes.

The BEST Vendor Recons module adds automated supplier statement matching, reconciliation, exception management, approval and reporting within SAP.

What discrepancies can supplier statement reconciliation software find?

The software can identify missing invoices, missing credit notes, unallocated payments, duplicated transactions, incorrect balances and differences between the supplier’s records and the buyer’s accounts payable ledger.

Can AI read supplier statements?

AI-supported document reading can extract data from supplier statements with different layouts and formats. The BEST Statement Reader can prepare supplier statement data for use in the reconciliation process within SAP.

Learn more about AI in SAP reconciliation automation.

How should I compare supplier statement reconciliation tools?

Compare the tools based on statement collection, document processing, automatic matching, exception management, ERP integration, approval controls, reporting and audit evidence.

SAP users should also consider whether the process operates within SAP or depends on data being transferred to and managed through an external platform.

Final verdict

For organisations using SAP, the BEST Vendor Recons module is the strongest specialist option in this comparison. It automates statement collection, transaction matching, exception management, reconciliation, approval and reporting within the SAP environment.

HighRadius, Xelix, Medius and Basware provide alternatives for organisations seeking a wider accounts payable platform or support across several ERP systems.

The right choice depends on the organisation’s ERP structure, statement volumes, document formats, approval requirements and preferred integration model. Shortlisted tools should be tested against genuine supplier statements and the complete reconciliation process, rather than matching functionality alone.

Book a BEST demo to see how automated supplier statement reconciliation works within SAP.