The Challenge: A Manual Maze of Vendor Statements
For the client, one of the world’s largest universities, managing vendor reconciliation was a time-consuming and error-prone task. Every month, the university received thousands of outstanding statements from vendors in multiple formats—emails, CRM systems, and even paper documents. Processing these statements was entirely manual, requiring staff to sift through invoices, verify their status, and respond to vendors.
The sheer volume and inconsistency in document formats led to delays, inefficiencies, and a high risk of errors. Without an automated system, vendor reconciliation became a bottleneck, diverting valuable resources away from strategic financial management. The university needed a solution that could efficiently process outstanding statements, extract key data, and streamline reconciliation—without compromising accuracy.
