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January 20, 2016updated 31 Aug 2016 9:55am

TalkTalk uses cloud to boost supplier statement reconciliation by 300%

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By CBR Staff Writer

TalkTalk has increased its supplier statement reconciliation by 300% using cloud-based technology from

The supplier statements scanned in to are automatically cross-checked with TalkTalk’s invoice processing system.

TalkTalk will be alerted in case of any missing invoices or credit notes, as well as duplicated and discrepancy statements.

If everything on a statement matches, it is reconciled in seconds, allowing the accounts payable team to manage exceptions found on other statements.

TalkTalk finance process improvement manager Gary James said: "Speed is the key, and the only way to achieve this while retaining accuracy was through automation.

"With, supplier statements are in our systems faster, exceptions are identified faster and the accounts payable team has time to resolve these because they are not spending time manually checking every entry." automatically reconciles supplier statements against the invoices, credits & payments on ledgers.

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Supplier reconciliation enhances financial controls and ensures that supplier balances are accurate with increased profits. is a cloud-based application launched in 2013 to automate supplier statement reconciliation and AP auditing.

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