One of the most daunting and cumbersome tasks in any creditor’s environment is the Recon process. Apart from the copious amounts of time to locate invoices and the scramble to have these approved before the payment cycle, this can lead to long delays in finalising payments to suppliers. This in turn leads to further frustrations and strain between the supplier and clients/organisations, which could potentially harm the business relationship.
PaperTrail has the solution for you!
PaperTrail’s Recon solutions are custom designed to fit your business needs and assist your organisation to improve the payment process, and to avoid the penalties associated with late payments. Whether you are an SME or an enterprise level organisation, our solutions are designed to expedite the process which in turn liberates your employees to focus on other tasks for smooth running of the creditors department.
Some of the functionality that can be incorporated into the Recon solution:
- ✓ Extraction of document metadata (basic and advanced).
- ✓ Electronic approvals of documents needed for the processing of Recons.
- ✓ Custom based Recon user interfaces with pre-population of supplier data.
- ✓ Visual representation of mismatch between Invoices and Statement data, foreasier processing.
- ✓ Ability to manage exceptions.The Recon process is vital to any organisation and by implementing a PaperTrail based Recon solution, this will ease the month end process of compiling and processing recons which in succession leads to a smoother creditors cycle and happy suppliers.
Written by: Avinash Brijmohan
Professional Services Consultant at Egis Software
Avinash is responsible for implementation and delivery of PaperTrail
Projects.
