Stotles logo
Pre-tender

Automatic Statement Reconciliation Software

Published

Description

Stoke-on-Trent City Council is exploring the procurement of an Automatic Statement Reconciliation Software to support financial operations by improving accuracy, efficiency, and automation in reconciling various financial statements, including bank transactions, supplier statements, and internal ledger records. - Automate reconciliation processes, reducing manual effort and improving data accuracy. - Identify discrepancies and exceptions dynamically, with built-in error handling. - Utilise AI-driven or rule-based transaction matching to enhance financial control. - Assist in the discovery of hidden credit notes to maximise cost recovery. - Provide tracking functionality to monitor whether identified issues, such as missing invoices or reconciliation discrepancies, have been resolved. - Offer compatibility with widely used ERP and finance management solutions, such as SAP Public Cloud and Civica, allowing for data extraction or integration where feasible. - Support compliance with financial regulations and reporting standards applicable in the UK public sector. - Provide an intuitive interface with real-time reporting and analytics for financial oversight. Lot 1: Stoke-on-Trent City Council is seeking a scalable and efficient reconciliation solution that can work alongside existing financial management systems. The key objectives include: - Automated Matching - AI-driven and configurable rule-based matching of transactions. - Exception Handling - Identification of unmatched or irregular transactions for review. - Discovery of Hidden Credit Notes - Identification of supplier credit notes that may have gone unnoticed, helping to recover costs. - Issue Tracking & Resolution Monitoring - A system to flag reconciliation issues and track their resolution status to ensure follow-through. - Audit Trail & Compliance - Full traceability and reporting features to support audits. - Cloud-Based or On-Premise Deployment - A flexible solution that can accommodate different IT environments. - Integration and Data Handling - Ability to interact with ERP, finance management systems, and other relevant platforms through structured data extraction, reporting capabilities, or integration where applicable. The council wishes to continue fulfilling its current services to the same high standard, though recognizes the need to engage with the innovative providers within the market to better understand the wider offer which may be available in an ever developing digital service are. If you are interested in any further discussions regarding this notice please contact Gabriella.brown@stoke.gov.uk with the reference 'Automatic Statement Reconciliation' where additional details can be discussed.

Timeline

Publish date

2 months ago

Buyer information

Stoke-on-Trent City Council

Contact:
Agnes Ashun
Email:
agnes.ashun@stoke.gov.uk

Explore contracts and tenders relating to Stoke-on-Trent City Council

Go to buyer profile
To save this opportunity, sign up to Stotles for free.
Save in app
  • Looking glass on top of a file iconTender tracking

    Access a feed of government opportunities tailored to you, in one view. Receive email alerts and integrate with your CRM to stay up-to-date.

  • ID card iconProactive prospecting

    Get ahead of competitors by reaching out to key decision-makers within buying organisations directly.

  • Open folder icon360° account briefings

    Create in-depth briefings on buyer organisations based on their historical & upcoming procurement activity.

  • Teamwork iconCollaboration tools

    Streamline sales workflows with team collaboration and communication features, and integrate with your favourite sales tools.

Stop chasing tenders, start getting ahead.

Create your free feed

Explore similar tenders and contracts

Browse open tenders, recent contract awards and upcoming contract expiries that match similar CPV codes.

Explore other contracts published by Stoke-on-Trent City Council

Explore more open tenders, recent contract awards and upcoming contract expiries published by Stoke-on-Trent City Council.

Explore more suppliers to Stoke-on-Trent City Council

Sign up