What is statement reconciliation?

What is statement reconciliation?

Leveraging advanced capture and reconciliation automation we deliver side-by-side ledger to statement views highlighting variances in amounts, dates, and currencies to expedite discrepancy resolution. Reconciliation results reveal missing invoices, payments, open credits, overpayments, and invoice data entry errors.

Statement Reconciliation integrates with ERP and document management systems to provide transparency into transaction variances, cash recovery opportunities from open credits, and identifies invoices stuck in exception status at risk of delinquent payment.

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Ways automated statement reconciliation can help your business


Interactive dashboards provide matching analysis, status of work in progress, and metrics on reconciliation results. Dashboards provide insights at-a-glance to supplier trends in accuracy and timeliness of payment application and invoice submission.


Customisable reports provide flexibility to filter, sort, export, and review reconciliation actions by supplier, assignee, resolution action, or variance type. Insights gained include suppliers with recurring variances and unreconciled items with the most significant impact on liability reporting accuracy.

Frees Up Team Resources

Automating the reconciliation process removes 90% of the mundane, manual effort needed to compare supplier, ledger, and payment transaction details. Team members are freed up to focus on problem-solving and preventive actions.

Supplier Reporting

Detailed variance reporting streamlines communication to expedite resolution and strengthen supplier relationships.


Flexible assignment of resolution tasks by supplier groups, action required, or variance type allow your team to manage tasks based on your organisation’s preference of how work is performed. Customisable definitions of resolution actions enable your team to proactively manage variances to alleviate aged ledger items.

Cloud SaaS

Statement Reconciliation is a fully hosted Software as a Service application which means there is no on-premise systems or software to maintain, reducing time demands on your IT team.

Statement reconciliation removes up to 90% of the manual effort to reconcile supplier statements.

Intelligent Technology

Automated workflows enable users to act on anomalies and address discrepancies quickly.

Audit Traceability

The capture of source documents, logs of change actions, and time-based snapshots of reconciled ledger provides full audit traceability.

Supplier Confidence

Suppliers enjoy being paid on time. Proactively resolving variances alleviates past-due balances, reduces supplier enquiries, and improves ledger accuracy. Expediting the reconciliation process results in enhanced on-time payment results.

Reveals Errors

Automatically uncovers data entry errors, ledger inaccuracies, and open credits. Reviewing patterns in error sources raises awareness of potential fraud and the need for improved data quality controls.

Statement reconciliation enhances supplier relationships - foundational to business growth.

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  • Case examples from your industry or similar use cases.

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Frequently Asked Questions

Yes. DataShark can be implemented as a stand-alone solution or integrated with a document management system.

Yes, our solution is ERP agnostic. DataShark integrates with common, proprietary, and legacy ERPs.

We are ISO27001 / ISO27701 / ISO9001 certified and independently audited annually.

Supplier statements can be submitted in PDF, Word, or Excel formats.