Capture, track and manage your vendor statements with FlexStatements, our web-based statement tool. More efficient and accurate than the typical manual statement process, FlextStatements also tracks activity for reporting purposes.
Leveraging electronic communications such as email and eFAX, FlexStatements greatly improves the overall process. Statement reviews can be more thorough and can be completed at a much lower cost.
How does it work?
You provide your Vendor Master contact information (including emails, addresses, fax and phone). Then, select the vendors to whom you want to send requests. Next, statement requests are sent out to the selected vendors. As statements are returned by the vendors, they are automatically imported into FlexStatements and ready for review.
Save time and money
The process is quick and simple with the Blast and Capture feature. If you have email addresses, statements can be automatically queued up and sent out. Fax numbers? Our automated eFax system can transmit the requests via fax. Traditional hard-copy mailings are also handled via a mail merge process. Using email and eFAX reduces cost by eliminating most of the manual mailing labor and postage required.
Statements returned via email and fax are automatically routed to FlexStatements. Hard-copy statements are scanned and imported. Auditors can quickly review the statements that have been received and can easily determine which vendors have not replied.
Track your progress
Statistical reports are available on-demand to show the progress of the audit, evaluate auditor productivity and automatically notify auditors when subsequent mailings are needed.
Due to the automation of the request and capture process, auditors have time to review lower volume vendors, thus increasing post audit recovery claims.