Statement-Matching.com Discusses the Importance of Improving Cash Flow

Cloud-based technology provider Statement-Matching.com have recently spoken to AccountingWeb on improving cash flow visibility

Supplier Statement Reconciliation is the crucial process by which Accounts Payable make sure supplier balances are correct for financial reporting. Although in principle the process is straightforward, supplier statement reconciliation is traditionally a labour-intensive, manual process, and reconciling a vendor account can take days because the statement can contain a large number of invoices.

Cloud based technology provider Statement-Matching.com’s automated reconciliation solution allows Accounts payable teams to automate the supplier statement reconciliation process, saving time and money as well as reducing missing credit notes, over-payments, miss-postings and duplicates in order to maximise profit.

Statement-Matching.com recently spoke to AccountingWeb on Improving cash flow visibility.

Key Points:

• Cash is the lifeblood of an enterprise and a strong cash flow is essential for smooth business operation and an indicator of its financial health
• When looking to improve cash flow, many companies focus on sales invoicing, overlooking the potential to improve cashflow by focusing on supplier invoicing
• The supplier statement reconciliation process helps improve cashflow by identifying credit notes, potential duplicates and over-payments.

However the opportunity to strengthen cashflow through the supplier reconciliation process is often overlooked due to the fact that the process is a time consuming and manual process, and one which many accounts payable teams have a reduced capacity to manage since their schedules are often full up with the day to day activities of processing invoices and managing payments.

Automating the supplier statement reconciliation process allows technology to take on this difficult work so Accounts payable teams can concentrate managing the exceptions as well as their other core business activities. Automated supplier statement matching allows supplier statements to be uploaded to the cloud-based system for automatic reconciliation, ensuring time wasted on manual processes is kept a minimum, ensuring Accounts Payable teams can focus on their highest leverage activities and making sure supplier balances are accurate for financial reporting. Visit http://statementmatching.com for more information.

The interview can be found here: http://statementmatching.com/improving-cash-flow-visibility-statement-matching-com-talks-to-accountingweb/.

Contact: Statement-Matching.com, 3 Perth House, Priors Haw Rd, Corby, Northamptonshire NN17 5JG, +44 (0) 1536 560520

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