Step into a brighter financial future with Basware's new Statement Matching solution! In the fast-paced world of finance, accuracy and efficiency are essential. Yet, many struggle with invoice and payment data visibility, leading to errors and inefficiencies. With our latest innovation, say goodbye to these challenges and embrace a new era of streamlined financial management.
Traditionally, Statement Matching has been labor-intensive, time-consuming, and error-prone, with up to 59% of a financial department’s resources allocated to managing this process. Manual reconciliation methods led to inefficiencies and missed opportunities. However, with the release of Basware's Statement Matching solution, a new era of efficiency and accuracy has arrived for Basware customers.
Statement Matching automates the reconciliation of Excel, PDF, and paper statements, highlighting exceptions and resolving errors in real time. This proactive approach saves time and resources, minimizes costly mistakes, and strengthens supplier relationships.
For the office of the CFO, maintaining accurate ledgers is crucial for financial reporting and cash flow forecasting. Statement matching automates the reconciliation of supplier statements to identify discrepancies such as missing invoices and credits, duplicate payments, and mis-postings. This ensures ledgers are accurate and deliver more value to the P&L. We've identified 3 specific benefits that Statement Matching offers:
By automating reconciliation processes, Statement Matching saves invaluable time and resources, allowing finance departments to focus on strategic initiatives.
Statement Matching identifies mis-postings, duplicates, and data entry errors, ensuring accurate supplier liabilities, minimizing financial risks, and boosting the bottom line.
With comprehensive reporting and real-time visibility, Statement Matching strengthens supplier relationships by providing transparency and proactive communication.
Reduce Over 90% of Manual Efforts
Speed Up Reconciliation by 10x
Identify Over $1M per $1B Spent in Missed Credits
In conclusion, Statement Reconciliation is not just a tool—it's a catalyst for transformation, driving efficiency, accuracy, and trust in financial management. With Basware’s Statement Matching leading the way, the future of statement reconciliation is brighter than ever before.
Learn more by visiting our Basware Statement Matching page.
Join our customer webinar on Statement Matching on July 18.
Contact your Customer Success Manager to discuss this further or reach out here.
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