Statement Reconciliation
The Statement Reconciliation tool allows customers and suppliers to upload monthly statements to identify and reconcile missing invoices and invoice discrepancies.
How Statement Reconciliation Works
Automated Reconciliation Process
We streamline operations by automating the reconciliation process, focusing on resolving missed credits through proactive identification and resolution of invoice discrepancies.
Key Benefits
IM’s Statement Reconciliation automated tool empowers both you and your suppliers to upload statements and compare them with current data in your ERP system, highlighting matched invoices, discrepancies in matching, and any missing invoices. This solution significantly reduces the need for manual reconciliation tasks, enabling proactive resolution of mismatches, incorrect totals, or absent invoices. Moreover, it fosters collaboration with suppliers to ensure timely payment and receipt of credits, thereby minimizing occurrences of credit holds.
Our statement reconciliation tool efficiently matches invoice data in the system with the Supplier’s Monthly statement, pinpointing discrepancies such as missed credits. By automating this process, it ensures accurate financial records, reducing errors and enhancing overall financial accuracy.
With our automated reconciliation tool, manual reconciliation tasks are significantly reduced, freeing up valuable time and resources. By streamlining the identification and resolution of discrepancies, it enables proactive management of mismatches, incorrect totals, or absent invoices. This leads to increased efficiency and cost savings for your business.
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