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Home > Smart Admin e-Solutions > Electronic Ledger Alignment > Electronic Statement

Electronic Statement

Celtrino's electronic Statement validates the creditor's ledger by enabling buyers to electronically capture and process supplier statements resulting in reduced reconciliation and reporting costs.

At the tail end of the trading cycle the buyer will receive monthly statements that list the outstanding invoices still to be paid. Circumstances vary but many buyers do not align their creditors' liabilities with their suppliers' statements due to the administrative burden and cost of completing this manual task.

As a result, buyers suffer in two key ways:

  1. Settlement discounts are lost as a result of late payment
  2. Liabilities are understated as the general ledgers are not aligned
Diagram: Demonstrates how Celtrino's electronic Statement solution validates the creditor's ledger and reduces reconciliation and reporting costs

Statement Diagram

  • Reduce costs: Eliminate manual effort associated with matching statements against creditor's ledgers
  • Realise supplier discounts: Electronic statement alignment enables you to avoid late payments and take full advantage of supplier settlement discounts
  • Improve cash flow management: Identify discrepancies between trading partner general ledgers
  • Reduce staff costs: With a dramatic reduction in the reconciliation and reporting process you can release staff to more productive tasks
  • Eliminate paper: By automating the supplier statement process you eliminate the need to track, trace and store printed statements
  • Web based reporting functionality: On-demand access to high quality financial reconciliation reports
  • Automated routing: Automated routing of designated reports to account managers and to trading partners
  • Automated matching: Automated matching of creditor's ledger with supplier statements
  • Automated reporting: Automated reporting on the capture of buyer remittance advices and reconciliation with debtors ledgers
  • Ease of integration: Designed and engineered to seamlessly integrate with existing and future business processes
  • Celtrino Security: Highest grade security is maintained in all the layers of the stack, including the physical, network, application, and data levels. Physical security is achieved via secured access in Europe's leading data centre; network security is achieved with multiple layers of firewalls operating in fail over mode; application and data security is achieved via a range of access control and encryption tools
  • Systems access: The Celtrino platform provides a secure and role-based authentication process that enables each customer to specify access permissions for different users
  • No additional hardware: All Celtrino services are accessed via a range of secure internet options including web services and internet browsers so there is no requirement to purchase additional hardware

Next Steps

Download Electronic Statement Data Sheet

Email us at info@celtrino.com

Call us on +353 1 873 9900

Smart Admin™ e-Solutions

Price & Product Alignment

Eliminate manual procurement processes and costs in the procure-to-pay cycle

Order

100% accurate order information for all trading partners

Deliver

Immediate electronic proof of delivery information

Invoice

Automate paper invoicing and generate 50-80% cost savings

Ledger Alignment

Automatically identify exceptions between the creditors’ and debtors’ ledgers

Customer Testimonials

I would recommend Celtrino Managed Services to any organisation that has an EDI need

Michael Dalton
Group IT Manager
Boyne Valley Group

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