Medius Statement Reconciliation is AI-driven statement reconciliation software that automatically matches supplier statements, identifies exceptions like missing or mismatched invoices to help prevent overpayments, making automated AP reconciliation a whole lot easier.
Catch missing or duplicate invoices with AI-driven matching, so you can avoid late payments or duplicate payments.
Make sure that the amounts you pay match the goods or services actually received and invoiced.
Uncover suspicious activity, such as invoices for goods or services never ordered or unauthorized account changes.
Avoid payment delays or penalties and proactively resolve invoice discrepancies with suppliers.
Identify incorrect amounts, misposted transactions, and other exceptions or errors, making sure you're in sync with your suppliers.
Get the transparency you need to see exactly what’s pending and what’s paid, so you can be confident your forecasts are spot on.
Deliver a level of accuracy manual reconciliation methods simply can't touch with AI that automatically extracts the data you need from supplier statements, flags exceptions automatically, and eliminates the need for manual checks and reviews.
Matched
Needs attention
How did Samuel, Son & Co., one of North America’s largest processors and distributors of metal and industrial products, dramatically reduce their inbox volume so suppliers received responses in minutes instead of days? It turns out AI isn't only helpful on the factory floor.
Statement reconciliation is a good example of what that looks like in practice. Instead of an AP team manually comparing a supplier statement line by line against what's already been recorded, Medius's AI reads the statement, regardless of format or layout, and automatically matches each line against existing invoices and payments.
When a line doesn't have a clean match, whether it's a missing invoice, a duplicate, a mismatched amount, or an unrecognized change to supplier account details, it's flagged as an exception rather than left for someone to discover later during an audit or a supplier dispute. That's the core difference between automated AP reconciliation and traditional invoice matching: matching checks a single invoice against a purchase order, while reconciliation checks the full picture of what a supplier says you owe against what your AP system says you've already handled.
With one look at a demo, you'll see how Medius solutions take you beyond basic automation and minor improvements to let Artificial Intelligence do the work for you.
See exactly how Medius Statement Reconciliation transforms the invoice to statement reconciliation process in this product fact sheet. You'll learn how you can:
Invoice matching checks a single invoice against a purchase order and, sometimes, a receipt. Statement reconciliation checks the full supplier statement, every invoice, credit, and payment the supplier says is outstanding, against your own AP records. That's what catches a missing invoice or a duplicate payment that invoice matching alone wouldn't surface, since those issues only show up when you compare the whole picture, not one invoice at a time.
AI-driven statement reconciliation software reads a supplier statement automatically, regardless of its format, and matches each line against your existing invoice and payment records. Lines that match cleanly need no further action. Lines that don't, a missing invoice, a duplicate, a mismatched amount, get flagged as exceptions for someone to review, instead of requiring a person to check every line by hand.
Yes. Duplicate payments typically happen because the same invoice is submitted, or paid, more than once without anyone noticing. Reconciliation software catches this by matching every invoice on a supplier statement against what's already been paid, flagging any invoice that appears to have already been settled before a second payment goes out.
