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Built right into Microsoft Dynamics 365 Finance and Operations, ExFlow Vendor Statement works with ExFlow Data Capture to import vendor statements, streamlining the reconciliation process for increased accuracy, enhanced trust, and more secure vendor relations.
Mistakes & Oversights
Overlooking an important detail can have substantial consequences, and lead to additional layers of review and approval that slow down the decision making process.
Late Payment Penalties
Additional costs building up because you Missing payments because you don't have a system in place to check a statement from a vendor for a period against transactions in D365FO.
Misunderstandings
Irregular and manual checking of payments against statements can cause incorrect data that can lead to gaps in communication and disputes with your vendor.
Lack of Overview
Without regular vendor statement reconciliation, audits and ensuring compliance with financial regulations become a hassle and a burden on you team as they lack overview.
Why Vendor Reconciliation Matters
Verify that your internal records align with the vendor’s statements, limit human errors and prevent discrepancies that could lead to financial inaccuracies.
By reconciling vendor statements, you can identify and correct any overpayments or underpayments, ensuring you only pay for what you’ve received.
Timely and accurate payments foster good relationships with vendors, which can be beneficial for negotiating better terms and ensuring reliable supply chains.
Reconciliation aids in effectively planning your cash flow by providing a clear picture of outstanding liabilities and ensuring timely payments.
Regular reconciliations simplify audit preparation and ensure compliance with financial regulations, as all transactions are accurately recorded and discrepancies are resolved.
By regularly checking and matching records, you can detect and prevent fraudulent activities, ensuring the integrity of your financial operations.
ExFlow Vendor Statement allows for a simplified approach to managing and reconciling vendor accounts. Detailed statements provide a clear overview of your financial interactions with vendors, helping ensure precision in all your transactions. By facilitating easy identification of discrepancies, you benefit from increased accuracy, reduced errors, and improved vendor relationships, making financial management more efficient, effective, and secure.
Automate the process of reconciliation with matching rules to quickly enhance efficiency, reduce mistakes and ensure real-time accuracy in your records.
Easily change the status of the Vendor Statement to reconciled when it is correctly matched against the transactions.
Create correct Vendor Statement Reconciliation Reports that are crucial for audits and compliance.
The Vendor Reconciliation Worksheet grants an overview off all matched and unmatched vendor statements with the corresponding vendor transactions.
Check our case studies and see how other clients leveled up their business with our help
We can now streamline one of our processes in ExFlow in such a way that our credit accountant, who used to spend an entire week each month on this task, now only sees the invoice when they approve the payment
Monica Kousgaard Franck
Finance Applications Specialist
There are a lot of competitor solutions these days, but the fact that ExFlow is built in, native to D365FO, and you don’t need to log out and go into another external system, really sealed the deal for us
Jason Green
D365 Finance and Operations Consultant
Our AP team is actually smaller now as a USD$50 million company, compared to when we were a USD$20 million company and ExFlow is a major contributor to that
Tom Carlson
Controller
ExFlow saves us a lot of time. When a colleague resigned, there was no issue handling the extra AP workload while we were looking for their replacement.
Chen Chen Leong
Head of Accounts Payable
Our only regret is that we didn’t implement ExFlow earlier, when we went live with Dynamics 365 Finance and Operations
Kelvin Payne
Group Finance Controller
It is very good to see how powerful the tool is for a financial department
Annika Wide
CFO
Blog
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ExFlow AP Automation is a built-in solution for Dynamics 365 FO that streamlines and automates the supplier invoice workflow, delivering better control, higher efficiency, saving time and money.
Automate financial processes, significantly lowering operational costs and streamlining efficiency.
Book a demo, and we’ll get back to you with details so you can have all
your questions answered in one session.
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