Electronic Statement, Supplier Statement, General Ledger

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:

Settlement discounts are lost as a result of late payment

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