Vendor Statement Reconciliation Tool
Key challenges
The vendor reconciliation process typically grapples with the following challenges:
A high volume of vendor statement reconciliation tasks
Volatile and dynamic inflow of vendor statements
High accuracy required in processing vendor statements
Solution description
The vendor statements sub-ledger statements, and exception reports work as ingestion files for the Vendor Reconciliation Tool
The tool leverages reconciliation rules, a matching algorithm, and rule-based segmentation to match and un-match vendor statements
Data from these ingestion files is extracted for validation
A final reconciliation report is generated for each category by the tool which displays information in both PDF and XLS format, including items such as payments registered in the sub ledger, payments processed, and other important information.
Key features
Typical business impacts and benefits
Contact us and learn more
Suri Babu Komma
Vice President
FAO Digital Transformation
Suri.komma@exlservice.com
Sajai T Satheesan
Senior Assistant Vice President
Operations Delivery
Sajai.Satheesan@exlservice.com
Ramnath S
Senior Manager
FAO Digital Transformation
Ramnath.S@exlservice.com