he speed with which a business can obtain and assimilate accurate information directly affects the agility of a company by allowing for quicker, more educated strategic decisions to be taken. And in market conditions where increased agility can spell the difference between great success and epic failure, any tool which can assist decision-making will inevitably prove its worth. Enter Electronic Ledger Alignment.
Electronic Ledger Alignment allows for immediate identification of the differences between the creditors’ and debtors’ ledgers at each of your connected trading partners. An eLedger Alignment system posts invoices into their customer’s general ledger automatically, ensuring that the ledger at both companies is accurate and up-to-date.
Essentially automated Ledger Alignment updates the general ledgers of each member of the supply chain to ensure that every single member’s ledger is accurate and up-to-date.
General Ledger reconciliation system allows a business to make quicker cash management decisions based on the increased visibility and transparency inherent in such a system. Businesses are assured that their invoices are received and entered onto client systems automatically, reducing the time taken by traditional invoice submission and manual re-entry.
A Ledger Alignment software ensures that reconciliation reports are accurate at each stage of the chain, helping to keep every member fully informed of payment status. The automated submission and entry of invoices allows for easy identification of missing invoices, further reducing the time it takes to resolve any dispute which may arise and speeding a resolution.
eLedger Alignment not only provides cost savings based on the reduction in effort and error-checking associated with invoicing and payment, but also potentially allows for a reduction in headcount. Businesses also stand to benefit from a deeper level of trust between suppliers and customers as each can take confidence from the accounting accuracy that Ledger Accounting software introduces into the supply chain.
Celtrino’s Smart Admin platform provides all of the functionality of Electronic Ledger Alignment without requiring extensive onsite re-configuration or installations. Smart Admin automates invoice submission and reconciliation reporting, allowing businesses to focus on other key business functions, safe in the knowledge that their general ledger, and that of their customers, are both fully up-to-date and accurate.
November 11, 2011 in
B2B Platform in the Cloud, Electronic Ledger Alignment, SaaS, Smart Admin