vendor reconciliation made simple within sap
Vendor recons
BEST’s vendor recons module leverages intelligent automation to match supplier statements, reconcile accounts payable data, and provide real-time visibility into your payables position. The vendor recons module is SAP Certified and functions within your SAP ecosystem.
Benefits of automated reconciliation with BEST vendor recons module
- 95% and higher statement matching rates
- Complete visibility into account payables
- Always compliant and audit-ready
- Tighter cash flow control
- Real-time accuracy
Vendor recons module features
Improve efficiency, ensure uniformity, and elevate performance while reducing miscommunication in your accounts payable statement reconciliation processes.
Intelligent automation
Leverages advanced technology for effortless matching and reconciliation of vendor statements.
Real-time visibility
Know your payables position at any
point in time.
SAP integration
Works seamlessly with your existing SAP ecosystem for streamlined workflows.
BEST drastically improves efficiency and cash flow management.
1All statement formats
Load into SAP / Store in SAP
Report
Approve
Pay
Recons Report
Vendor recons module
How it works
BEST’s vendor reconciliation module allows you to control the entire vendor reconciliation process in SAP. You can use normal SAP authorisations and system audit trails, as well as report statement matching rates and calculate vendor accruals and provisions.
BEST can also block invoices for payment if they are not on the supplier statement and base your payment terms on the statement date.
Our vendor recons module matches all the way up the procurement chain to parked, held, GR/IR and even Vendor Invoice Management (VIM) tools such as OpenText, ReadSoft, eFlow and others.
BEST works in tandem with the vendor statement reader or BEST’s statement portal to automatically process all the formats in which creditors’ statements come in: paper, Excel, PDFs, etc.
Vendor recons module
Save time with the vendor recons module
Vendor recons module
Vendor statement reader
Automate the manual process of importing creditor statements into SAP. Benefit from greater efficiency, accuracy, and cost savings.
- Accepts vendor statements in any format – PDFs, Excel, email, paper, scans. Our Optical Character Recognition (OCR) engine seamlessly extracts key data.
- Plug-and-play integration with your SAP system. Specifically configured for supplier statements.
- Automated vendor matching in SAP produces reconciliation reports.
- User cockpit manages exceptions and re-processes incomplete statements.
- Supports standard SAP functionality like EDI, Excel/text uploads, copy and capture.
1Vendor statements
statement
reader
Load into SAP
content
server
Load into SAP
3SAP system
Statement matching, reconciliations, approvals and management reporting directly in SAP.
Benefits of BEST modules
Time and cost savings
- Reduce the time needed for reconciliations by up to 90%.
- Channel skilled finance resources to focus on high-risk areas and resolution, optimising efficiency.
Process efficiencies
- Achieve a 95% and higher automated matching rate.
- Tailor approval mechanisms in SAP to address high-risk areas effectively.
- Manage month-end tasks efficiently using comprehensive control reports, identifying and resolving anomalies.
Standardisation and compliance
- Standardise operations across business units for a structured SAP month-end close.
- Ensure compliance and complete accuracy with full audit trails and approval history for internal and external stakeholders.
Environmental sustainability
- Store all reconciliations within SAP, enabling easy access to historical data.
- Approve reconciliations online within SAP, reducing dependency on paper and lessening the environmental impact while also supporting Sarbanes Oxley compliance.
Get started
See how BEST and our partners can streamline your SAP processes