Statement Matching

Now automated reconciliation of supplier statements just happens.

Is your finance team struggling to proactively reconcile supplier statements at scale to ensure your AP ledgers are accurate?

For the office of the CFO, maintaining accurate ledgers is crucial for financial reporting and cash flow forecasting. Yet, the sheer volume and complexity of statements make it impossible to scale without automation. The result? Missing invoices and credits, mis-postings, and duplicates can go unnoticed, ultimately impacting the P&L.

But it doesn't have to be that way.

Automate supplier statement reconciliations with our cloud-based Solution to uncover missed credits and reclaim real funds:

Automate the reconciliation of any statement format
Identify cash recovery opportunities
Compatible with any ERP System

Automated exception processing
Reduce aged Goods Received Not Invoiced
Free up team resources

Solution overview
Achievable KPIs
Value drivers
Customer success

Unleash the potential for regained revenue with Statement Matching.

Our solution proactively reconciles supplier statements, identifying issues early to improve the chances of timely resolution. This enhances transparency, identifies cash recovery opportunities, and flags late payment risks, enabling your team to focus on problem-solving rather than matching. Now get ahead with:

Automation Reconciliation

Automated daily upload of invoice data from your ledgers. Excel, PDF, or paper supplier statements are automatically reconciled with an overall status allocated to each statement and statement line.

Easy Cloud Setup

Cloud-based solution that requires no hardware or software installation—just a browser. Leverage integrated statement matching solution with our AP Automation for a quicker start. Have the system up and running, ready for training, within a week of receiving the initial data.

Supplier Portal Access

A portal for suppliers to view invoice and payment status, submit messages, and upload statements for account reconciliation. Your AP team can then access these results, streamlining communication.

Improved Supplier Relationships

Enhance supplier relations, improve ledger accuracy, and reduce outstanding balances by optimizing communication channels with suppliers to expedite the resolution of discrepancies.

Exceptions Handling

Reconciliation reports identify missing invoices, open credits, miss-postings, and discrepancies. Resolve ledger errors and share reports with suppliers, providing document status, due dates, paid dates, and payment references.

Interactive Dashboards

Utilize interactive dashboards for detailed matching analysis, task monitoring, and reconciliation metric assessment. These tools provide dynamic visuals for informed decision-making and enhanced efficiency in operations.

3 KPIs achieved from our top customers on average

>90%

of Manual Efforts Eliminated

10x

Increase in Reconciliation Speed

$1M+

Identified for Every $1B Spent per Customer

How Statement Matching generates extra value for your Accounts Payable (AP)

Improve Bottom Line:

It automatically uncovers missing invoices, missing credits, and overpayments to ensure no financial discrepancies are overlooked. By doing so, get immediate ROI by resolving errors before suppliers are paid incorrectly and clearing aged GRNI.

Reduce Manual Efforts

It significantly reduces manual efforts by automating up to 90% of the supplier statement matching process using our automated workflows.

Improve Supplier Relations

Our solution ensures timely payments, fostering strong and reliable relationships with suppliers. By quickly resolving any discrepancies in our records, we prevent overdue payments, minimize supplier inquiries, and enhance the accuracy of your financial records.

Want to learn more?

Read our free Factsheet 'Basware’s Statement Matching'.

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Why customers use Basware as their leading AP Automation Provider

True Automation

Cutting-edge technology powered by AI & ML that eliminates all manual processes

Complete Coverage

Global compliance capabilities and the ability to integrate with 250 ERPs across more than 190 countries

Deeper Expertise

40 years of specialized experience implementing best practices and reducing risk across finance operations