Statement Reconciliation

Supplier statement reconciliation can be one of the most time consuming and frustrating processes within the finance and accounts department.

With Spectrum Digital’s solution you can automate the matching of supplier statements against received invoices and credit notes. Not only does this save time but it improves the speed of payment, reduces queries and ensures ledgers are accurate for month end reporting.

Explore Statement Reconciliation
Statement Reconciliation

An essential solution for your organisation

Spectrum Digital’s Statement Reconciliation solution provides an effective way of automating the supplier statement reconciliation process.

For many businesses this is a time consuming and laborious process with people having to manually match up supplier statements against received invoices and credit notes.

This is a perfect candidate for automation. Our machine learning based capture technology will ‘read’ the supplier statement, extract the key information, and then match that data against received invoices and credit notes. Any discrepancies will then be sent to the team to resolve using our digital workflow technology.

Well, we don’t just give you a generic off-the-shelf system that bears no resemblance to your specific requirements. Instead, one of our Business Process Consultants will use their decades of experience in lean and six sigma to work with you to understand and, if needed, define your process. We will then configure the solution to meet your specific requirements, providing a tailored solution for your business.

What do our customers think?

Since engaging with Spectrum, our operational performance and accounting productivity has increased remarkably, both in respect of human hours and bottom line profit. Rarely have suppliers come to us with cost-saving measures. If Spectrum see an area where we can save money, they will bring it to our attention and help us implement it.

Gelder Group
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