Traderoot Europe’s Billing and Reconciliation Engine product consists of:

• Traderoot reconciliation platform for managing reconciliation as a pre-phase or stand-alone function
• Financial and Accounts Payable workflows
• Supplier and buyer management
• Traderoot Back Office for clearing and settlement

Reduce costs, save time and reduce errors

Our solution assists in automating your debtor and creditor processes, which means you save money by making more effective use of your employees, allowing them to focus on more important tasks that drive your business forward.

Boosting the speed at which you can process your payables and receivables helps to optimise your business. Take advantage of huge savings from discounts on early settlements, whether directly with your creditors or through a third-party supply chain financier.

You also reduce errors in the billing process, because everything is reconciled according to exact billing data submitted to the system. Human error is greatly avoided, which means savings in time and money for your business. It also inherently reduces the risk of fraud.

Buyer communities

Accredited buyers are company employees or outsourced supply chain financiers who provide a service to your business. Buyers are lodged in the system along with their mandates, VAT registration and financial instruments (credit cards, bank accounts, and so on). The Billing and Reconciliation Engine generates and sends tax invoices to the buyers based on predefined delivery rules.

Buyers can be easily added and updated in the system. They can view information over a web portal so that they are always up to date with the buying cycle and can review past transactions.

Supplier communities

Suppliers provide you with the stock or services you need to successfully run your business. The Billing and Reconciliation Engine lodges them for settlement of account payable invoices, along with their bank accounts and merchant details. You can set up invoices to be paid automatically according to time-based rules defined in the system.

Supplier information can easily be added or updated. Like buyers, they have access to their transaction information on a web portal.

Traderoot Europe Back Office

The Billing and Reconciliation Engine Back Office performs periodic calculations of the state of core accounts in terms of exposure and liability, per buyer, supplier, billing programme, financial organisation or creditor. It calculates interest, fees and commissions and aggregates to the general ledger. The Billing and Reconciliation Engine Back Office includes inline, end-of-day or slot period fee calculation using the Traderoot Treasury framework. Other standard features are:

• Fee and subscription collection
• Subscriber notifications by email or SMS
• Settlement between buyer, supplier and financial organisations
• Production and remittance of invoices and statement documents in signed PDF format
• Financial postings to financial general ledger systems such as SAP, AccPac, Oracle and Sage
• Automatic generation of financial documents (remittance advices, statements, settlement advices) and export into standard accounting packages
• Extraction and publication of MIS data to external data warehouses.