With such a high volume of statements being sent by clients, the traditional statement reconciliation process is open to human error.
So, as the workload increases for AP functions, any errors may be overlooked, and as time passes, it makes it much harder to recuperate any missing payments.
These continual errors can potentially lead to unsatisfied customers, which can devastatingly lead to losing business you’ve worked hard to keep over the years.
Autorecs. is an automated supplier statement reconciliation software, which offers plenty of benefits to busy AP and finance teams.
By investing in automation you can ensure:
By choosing to go automated, finance teams can easily follow up on any discrepancies, ensure that all teams receive invoices and credit notes and that there is never a backlog of statements.
This means businesses can ensure their suppliers are paid on time, reduce the likelihood of incorrect or late payments, stay on top of their cash flow and make sure they make the most of early payment discounts.
Save time, reduce enquiries and, most importantly, pay suppliers on time by automating your supplier statement reconciliation process with autorecs.