Medius Statement Reconciliation uses AI to automatically match supplier statements and spot missing or mismatched invoices to help prevent overpayments, backed by 2.4 billion+ invoice field data points and 10+ years of continuous AI development, making the reconciliation process a whole lot easier.
Catch missing or duplicate invoices so you can avoid late payments or duplicate payments, with AI-powered fraud detection that reduces payment errors by 90–95%.
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, powered by Medius's behavioral monitoring and anomaly detection models trained on real-world corrections across 3,000+ active customers.
Avoid payment delays or penalties and proactively resolve invoice discrepancies with suppliers.
Identify incorrect amounts, misposted transactions or other errors, making sure you’re in sync with your suppliers. Medius customers reduce exception rates by approximately 70%, from ~22% to ~9%, compared to industry averages.
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 and eliminates the need for manual checks and reviews.
Matched
Needs attention
Keep a complete log of all reconciliation activities with comments and status updates so that you can easily access them for audits.
When Statement Reconciliation finds an issue, you can quickly resolve it directly in the workflow.
Comments and mentions are tracked with the supplier statement for reference.
Medius Statement Reconciliation and Medius Supplier Conversations ,our AI agent for suppliers that autonomously classifies, retrieves context, and responds to vendor questions right in their inbox, work together for best-in-class data extraction, supplier management and supplier communications. Supplier Conversations reduces inbox management from approximately 8 hours per week to 30 minutes, a ~94% reduction.
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.
Managing AP and finance should be about strategy, not stress. Medius is on a mission to replace all that worry and wondering with calm and confidence. 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.
Dive into the details of how Medius Statement Reconciliation can revolutionize the invoice to statement reconciliation process in this product fact sheet. You’ll learn how you can:
