Automated Vendor
Reconciliation Solution
Moving from manual spreadsheets to automated software transforms
reconciliation from a tedious chore into a strategic advantage.
Automation doesn’t just save time;
it protects your working capital.
Automation leverages existing technologies like OpenText OCR and Vendor Invoice Management (VIM) to handle the heavy lifting of data extraction, entry, and matching. Instead of waiting for vendor spreadsheets or manually comparing line items, the system automatically ingests vendor statements, matches them against internal records such as invoices, POs, and goods receipts, and highlights only the exceptions that require attention.
The Auritas Automated Vendor Reconciliation solution is completed in as little as four (4) to five (5) weeks.
The Reconciliation Process
Automatically compare vendor statements with internal financial records, to ensure everything matches accurately, with minimal manual effort.
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Collect Documents
Gather the vendor’s statement (usually sent monthly) and your internal Purchase Orders (POs) and receipts.
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Match Invoices
Tick off every invoice listed on the vendor statement that appears in your ledger.
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Identify Discrepancies
Note any items that don't match. This usually falls into in-transit items and missing invoices.
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Adjust and Resolve
Contact the vendor to request missing copies or to dispute an incorrect charge.
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Finalize
Once the balance is explained or corrected, the statement is considered ``reconciled.``
Why Automated Vendor Reconciliation?
This approach not only accelerates the reconciliation process but
also significantly improves accuracy and visibility.
Automated Vendor Reconciliation
Common challenges with
vendor invoice reconciliation
Accounts Payable (AP) teams often spend a significant amount of time manually reconciling vendor statements, especially for highvolume vendors with hundreds or thousands of transactions.
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What is vendor reconciliation in SAP?
Vendor reconciliation in SAP is the process of comparing vendor statements with internal records, such as invoices, purchase orders (POs), and goods receipts, to ensure all transactions match and balances are accurate.
Why is automating vendor reconciliation important?
Automation reduces manual effort, improves accuracy, and speeds up the process. It helps eliminate errors from spreadsheets, provides real-time visibility, and ensures discrepancies are identified quickl, protecting working capital and capturing early payment discounts.