Powering completeness, accuracy, and compliance
Automate the entire accruals process, including vendor confirmations, PO and budget owner confirmations, historical calculations, and auto-posting JE's into SAP S/4HANA. Automate over 500 hours of manual work, improve the accuracy of expense data, and drive tighter compliance controls.
Overview
Increase the completeness and accuracy of your expense data
Automate communication with your vendors and PO owners and capture responses in one centralized place, resulting in greater coverage and accuracy in your accruals.
Minimize audit risk
Accruals are the third most cited reason for financial restatement. Our solution allows you to create transparent audit support that is posted directly in the ERP, greatly reducing your risk of accrual audit penalties.
Shorten month-end close
Automate all of your team's vendor confirmations, PO owner review, accrual estimate calculation, and accrual journal entry posting in SAP, resulting in 2-4 days' worth of work saved each month during close.
Details
Solution type
Extensions and Add-ons
Industry
Cross-Industry, Healthcare, High Tech, Life Sciences, Telecommunications
Compatibility
Works with
Features
Save hundreds of hours each month through automated vendor outreach
Automates outreach to vendors to confirm expense accruals each month. Automatically e-mail selected vendors and record and display responses on a centralized platform, saving accounting teams hundreds of hours each month and improving accrual accuracy.
Improve the accuracy of expense data through automated PO owner outreach
Automatically e-mails selected PO owners (pulling in relevant data from your PO system), allowing them to quickly and easily report accruals. This provides a simple format for PO owners to report accruals, improving the accuracy of expense data.
Elevate your team out of tedious manual work with automated calculations
Historical and month-to-date expense data are ingested, allowing for auto-calculated accrual estimates using rules-based calculations. This provides greater coverage in the accruals process, saves accounting teams hundreds of hours each month, and frees up the team for more strategic analysis.
