Time Saving
The manual processing of receipts takes considerable time and is expensive. According to calculations, the quality review and manual entering of each receipt in the subsidiary ledger amount to in excess of £2-£3 per transaction. With Adra Match Receivables up to 95% of this time and cost can be removed through process automation, making the solution an excellent investment.
Accuracy Assured
One of the primary weaknesses of a manual receivables handling process is the potential for human error during creation of the manual transaction in the subsidiary ledger. Adra Match Receivables removes much of the potential for error due to the straight through processing (STP) nature of the automation. The subsidiary ledger is updated through an interface created by the software, thus removing the risk of manual error.
File Handling Capability
Adra Match Receivables is provided with a conversion module that handles any bank file format, including EdiFact, LM, OCR, Swift/MT940 or others. The subsidiary ledger can then be updated automatically with domestic and foreign payments, and payments generated directly within your own bank such as sweeps and transfers.
Integrity of Matching
The receipts are matched on the basis of customer reference as well as the amount, thus increasing the integrity and accuracy of transaction matching. This reference might be a CID number, customer number, invoice number or other unique customer reference information. When you have completed the transaction processing and reconciliation, the software produces an extract file in the format required by your ERP or accounting software to facilitate the updating of the ledger.
Naturally, the software also provides a range of reporting options.
Ease of Use
Adra Match Receivables is easy to learn and simple to use. Your employees will be competent users in a short period of time. Adra Match Receivables is developed as an independent unit, and deployed on a ‘non-invasive’ basis, separate from the accounting system. Adra Match Receivables has been developed by Adra Match in close co-operation with customers and banks.
Adra Match – your competence partner
Adra Match is the European leader on in the provision of automated account reconciliation solutions and for the administration of incoming payments. Adra Match provides quality products that are easy to deploy and easy to use. Adra Match has more than 20 years experience and is able to share ‘best practice’ approaches developed from thousands of implementations.
Download Norwegian product sheet
Download Swedish product sheet
Download Danish product sheet