Menu

Power Reconciliation

Invoice errors can not only cost your business money, but they can also be hard to find. Manually comparing purchase orders, deliveries and invoices to look for mistakes can often cost more than the money saved. NCR's Power Reconciliation automatically reconciles invoices, receipts and purchase orders and eliminates the need for cumbersome paper-based matching processes. Users are alerted to discrepancies, so they can find errors more easily and process invoices more efficiently.

 

  • Save money by eliminating over-payments due to errors
  • Speed up the Eliminate paper-based invoice matching
  • Reduce administrative costs associated with invoice processing
  • Monitor vendor performance in accurate billing and delivery

Connect with our sales team

Got a question? Let’s connect. Just fill out the form to get the conversation started:

*By checking the subscription box, you agree to receive emails from NCR about products, updates and promotions that may be of interest to you. You can withdraw your consent at any time by clicking here to manage your subscription choices, and click here to access NCR's Privacy Policy.

Product Summary

 

NCR POWER RECONCILIATION - Retail and distribution industries 

 

 

Accurate invoices and payments are essential for profitability

 

As customers demand an ever-increasing variety of products, retailers have to manage more vendors and more invoices than ever before. New product introductions occur almost daily, and retailers are adding local and niche vendors to accommodate custom product assortments to meet demand. Not only that, but vendors today tend to offer more targeted deals, leading to a complex system to accurately manage invoice payments and vendor funding dollars. With so much to juggle, retailers that don’t have automated reconciliation systems can waste a lot of labor hours comparing invoices, looking for discrepancies and determining the correct payment due. Plus, it’s important to overall business profitability to maximize vendor discounts and minimize freight costs for every invoice. 

 

Without proper systems, there’s virtually no way to keep up with all of this work efficiently. 

 

Introducing NCR Power Reconciliation, an easy-to-use solution that automatically reconciles large volumes of invoices, receipts, and purchase orders. The system streamlines the invoice matching process for all types of invoices: product, freight, warehouse and DSD. The data can then be leveraged to measure and track supplier performance and to maintain an accurate cost of all goods. Ultimately, the data from NCR Power Reconciliation can help improve the single number that matters the most—your bottom line.

 

 

Continuous improvement made easy 

 

You can’t manage what you don’t measure, and you can’t improve what you don’t manage. Are you tracking the key accounting metrics that will help your business improve? Do you know your match rate for invoices? Or, how many labor hours you spend on reviewing, resolving and approving invoices? With NCR Power Reconciliation, managers can define tolerances by cost element and by vendor that will automate the matching invoices within tolerance, and automatically flag critical exceptions.  

 

The system also includes a variety of tools to ensure product cost accuracy and help collect all of your eligible vendor discounts and rebates to maximize profitability. For example, if an order was shorted that initially contained deals or lower costs, the system ensures that these allowances are recovered when the goods are ultimately delivered. Without this streamlined workflow, users would spend excessive time manually trying to match PO’s, deliveries and invoices and would spend even more time routing discrepancies to the proper teams to address. Properly managing payments in a fast paced, high volume retail environment with efficient use of labor hours is a key element to your overall profitability. 

 

  • Customized workflows route discrepancies to the assigned users for additional action
  • Automatically generates emails and system alerts to assigned users for issue resolution
  • Flexible cost allocations properly assign costs, cost components and other fees so that they are properly rolled up to the invoice
  • Parameters are defined for invoice-level and item-level tolerances to prevent incorrect payments while increasing match rates
  • Items can be split or merged across vouchers, to fit your business process
  • Automatically generates appropriate accounting transactions at each stage of reconciliation
  • Dynamically creates cost components (off-invoice, billbacks, etc.)
  • All invoice costing is available for reconciliation and discrepancy review preventing overpayments
  • Performance tracking measures user match rates, user discrepancies and supplier invoice errors

 

 

Complimentary products