Customer Case Studies – Vendor Reconciliations
Customer Case Studies – Vendor Reconciliations
FASTER INVOICE HANDLING & QUERY RESOLUTION; SHORTER REPORTING PERIODS & BETTER FINANCIAL OVERSIGHT.
NOW WHAT CAN BEST DO FOR YOU?
In an interview in May 2023, Northam share how they have optimised their vendor statement reconciliations process with BEST Vendor Recons:
Read the background, their outsourcing decision and the benefits achieved including:
- Higher vendor reconciliation volumes on a monthly basis and at year end.
- Broader recon coverage across existing and new vendors by using BEST.
- Higher transparency and visibility to really understand vendors’ statements.
- Less room for errors. With BEST the automatic matching is so much more accurate.
FSSI HAS MOVED FROM MANUAL, TIME CONSUMING EXCEL RECONS
TO CONSISTENT, IMPROVED, FASTER VENDOR RECONS IN SAP.
NOW WHAT CAN BEST DO FOR YOU?
Foodstuffs South Island shared how they implemented BEST Vendor Recons with BEST and Enterprise Wide (BEST Australasian partner) at the SAP User Group Australia in 2022.
Their Case Study notes project background and benefits achieved including:
- No more manual, inconsistent processing outside of SAP in Excel.
- Consistent terminology and categorisation.
- Live status monitoring and better management of accounts.
- Improved matching using BEST automatic matching algorithms (improved our reconciliations).
- Great feedback and increased vendor engagement (we can now look for patterns).
FROM WEEKS TO DAYS, AMKA ACHIEVES
THEIR VENDOR RECONS WITH A CLICK OF THE BUTTON.
NOW WHAT CAN BEST DO FOR YOU?
In a Webinar Interview in September 2022, Amka share how the AP team moved from a manual, time consuming activity to automated and fast vendor reconciliations in SAP with BEST.
Read how Amka achieve the below with BEST:
- 98,5% automatic matching rate i.e. no user involvement required.
- Improved communication to suppliers.
- Meet audit requirements easily.
- Effective reporting.
BUILDERS, A MEMBER OF THE MASSMART/ WALMART GROUP,
ACHIEVES 96,5% AUTOMATIC MATCHING USING BEST VENDOR RECONS
NOW WHAT CAN BEST DO FOR YOU?
Builders AP measures well with BEST Vendor Recons and Statement Reader – in use since 2016.
Benefits include:
- Mass data processing performed by the system allowing personnel to report and chase exceptions.
- More proactive management of suppliers.
- Improved relationship with suppliers.
- Reduced risk of errors and fraud.
- Ability to produce integrated reports.
INCREASED THEIR VENDOR RECONCILATION
BASE WITH A MORE EFFICIENT SYSTEM
NOW WHAT CAN BEST DO FOR YOU?
In a Case Study interview in September 2022, Distell shared how BEST Vendor Recons and Statement Reader has helped them to now reconcile ALL their vendor statements.
- Read how Distell is saving time and doing more recons than they did previously.
- Implementing BEST has created capacity within the Distell AP team.
- Lots of reporting options available – no reporting previously. Focus is on age analysis and reconciling items.
- Have full visibility of data across systems – VIM, Coupa, PD, GRIR etc.
- Auditors access BEST directly and had no comebacks, so BEST supports audit requirements.
OPTIMISED VENDOR RECONS IN SAP WITH BEST AT AFRISAM.
A CONCRETE, BENEFICIAL RELATIONSHIP BUILD ON CAPABILITY & TRUST.
NOW WHAT CAN BEST DO FOR YOU?
In a Case Study interview in August 2022, AfriSam shared how implementing BEST Vendor Recons has improved efficiencies within and outside of the AP Team.
- Read how AfriSam selected the BEST Vendor Recons module 9 years ago, achieved a 2 year ROI on the implementation and has subsequently implemented the BEST GL and Debtors Remit modules.
- AfriSam has achieved significant time savings on Recon processing and with 93% auto matching the system is operating well and efficiently.
- AP Team focus is on problem solving.
PROCESSING 300 000 INVOICES MONTHLY.
WE CURED DIS-CHEM’S BIGGEST HEADACHE.
NOW, WHAT CAN BEST DO FOR YOU?
Dis-Chem presents their BEST implementation experience at Budapest International SAP Conference for Financial Shared Services.
See how Dischem:
- Improved management reporting and audit controls
- Highlighted operational issues
- Reduced personnel, printing and storage costs
- Received positive feedback from Suppliers
825 000 SUPPLIER INVOICES MATCHED.
THAT’S HOW WE LIGHTENED THE LOAD FOR TRANSNET.
NOW, WHAT CAN BEST DO FOR YOU?
BEST is used at 10 Transnet Divisions with over 240 users. Considered the best implemented IT project with 3 project phases 2012 to 2014.
See:
- Who uses BEST at Transnet
- The project rationale and benefits
- Feedback from some divisions
- Statistics on system usage