The reconciliation of intercompany account statements is a monthly recurring process. When performing the reconciliation process, two statements are checked against one another. When these statements do not match, a lengthy process of scanning for the missing lines awaits. Ciphix offers an RPA solution that fully automates this reconciliation process. As a result, the human operators enjoy freed up time and an increased satisfaction.
We were contacted by an international AgriFood organization, consisting of many different companies. Each company has its own, unique reference code. At the end of the month, the account statements made by the organization are reconciled to check if they are in balance. The process is as follows. First, a list of the company codes and partner entity codes are used as input, and are checked against one another. These codes are entered into SAP which then supplies the operator with an Excel sheet. Following this, there are two possible outcomes: either the inputs match, or they do not. In case of a match, an email is sent to the contact person confirming this. However, if there is no match, the operator has to go through each line in the customer statement and check if it matches with the vendor statement. These statements can easily consist of hundreds of lines. The missing line is accrued to an Excel template and also looked up in Basware. If the missing invoice is not in Basware either, an email is sent through SAP to ask the customer for a copy of the invoice.
As you can imagine, this process demands a lot of time and attention. Operators also experience a high level of dissatisfaction during this process. To put it in perspective: if 50 lines are missing in a statement, 50 invoices need to be looked up and 50 emails need to be sent through SAP. Sounds more like a task for a robot, right?
Of effort automated
Hours saved annually
Human interference required