Statement Zen, a Brisbane-based accounts payable automation startup, has announced an exclusive closed beta program for its AI-powered vendor statement reconciliation platform. The beta expands the company's compatibility from established cloud accounting platforms to over 20 major legacy and on-premise enterprise resource planning systems, which continue to dominate operations for millions of businesses globally. The platform requires no application programming interfaces, custom templates, or IT system modifications, operating instead through simple file uploads.
The importance of this development lies in addressing a persistent and costly operational bottleneck. Manual reconciliation of vendor statements against ERP data is a widespread challenge, leading to endless work in spreadsheets, overlooked discrepancies that can cost thousands of dollars, and significant compliance risks. By automating this process, finance teams can potentially slash reconciliation time by up to 80%, uncover duplicate payments or missing credits to recover funds, close books faster, and reallocate staff to more strategic work. The implications for operational efficiency, financial accuracy, and regulatory compliance are substantial for industries reliant on older, entrenched software systems.
The beta program seeks ERP resellers, AP providers, accounting firms, and end-users to test the platform with real-world data. Compatible systems include SAP ECC & S/4HANA, Vista by ViewPoint, JD Edwards, Microsoft Dynamics suites, Acumatica, Deltek platforms, Oracle E-Business Suite, various Infor and Epicor systems, Syspro, IFS Applications, and Sage products. The platform also supports any other system capable of exporting open-items, aged-payables, or unpaid-invoices reports.
The process involves three steps: uploading vendor statements in PDF, Excel, or CSV format; uploading the ERP's open-items export in any format; and allowing the AI engine to instantly match lines, handle partial payments and credit notes, and flag true exceptions while generating a full audit trail. A company spokesperson stated the tool aims to empower overworked finance professionals to reclaim their time and accuracy, particularly for legacy systems that larger software vendors may no longer actively support.
Beta participants receive a 30-day free trial with unlimited access, personalized setup where the company verifies compatibility using sample data, priority support, and early feature access. Active testers providing feedback on five or more reconciliation runs qualify for lifetime discounts of up to 50% or a free first-year subscription. Successful pilot programs may evolve into formal revenue-share partnerships. Interested parties can learn more by visiting the company's website at https://www.statementzen.com.
