Customer story

How a leading optical retail chain reconciled 3,600 supplier documents a month with KIP.ai

KIP.ai, Your AI Native Finance Department, automates supplier statement reconciliation for a leading optical retail chain in Malaysia. Finance teams upload supplier statements of account and ERP goods received entries through the admin portal. KIP.ai extracts and normalizes the data, runs two-way matching between the two sources and generates matched and exception reports. Approved results are pushed back into the Goldsoft ERP. KIP.ai is built by Axrail, an AWS Premier Partner and a team of Applied AI experts.

At a glance

Customer
A leading optical retail chain
Industry
Optical Retail
System
Goldsoft ERP
Use case
Accounts payable (AP)
KIP.ai workflows used
Supplier SOA and ERP file upload through the admin portal, AI data extraction and normalization, Two-way matching, Matched Records Report and Exception Report generation, Approved results pushed to the Goldsoft ERP
  • 3,600supplier documents a month
About A leading optical retail chain

A leading optical retail chain in Malaysia operates a wide network of outlets across the country. That scale brings a steady flow of supplier statements of account each month, each requiring reconciliation against goods received entries submitted by outlet staff.

The challenge

Reconciling supplier statements of account against ERP entries by hand created accuracy risks and heavy posting workloads.

The finance team reconciled supplier statements of account against goods received entries submitted by outlet staff by hand each month. At 3,600 documents a month, manually verifying data accuracy and resolving discrepancies such as missing invoice numbers, mismatched amounts and date inconsistencies created heavy posting workloads and accuracy risks across the supply chain.

The solution

KIP.ai extracts data from supplier SOAs and ERP files, runs two-way matching and flags every discrepancy for the team.

Finance teams upload supplier statements of account (PDF and CSV) and ERP goods received entries (CSV) via the KIP.ai admin portal. KIP.ai extracts and normalizes the key fields from both sources: invoice number, invoice date, amount, supplier name and supplementary fields including branch code, transaction code and currency.

KIP.ai runs two-way matching between the supplier SOA data and the ERP goods received entries. Results are split into a Matched Records Report and an Exception Report that describes each discrepancy. Every exception is flagged for the team to review and decide.

Once the team approves the reconciliation results, KIP.ai pushes the finalized data back into the Goldsoft ERP system.

The impact

Faster reconciliation, reduced manual workload and fewer discrepancies reaching the ERP system.

  • Faster reconciliation: Reconciliation runs automatically across a monthly volume of 3,600 documents, replacing the manual step that consumed the most time.
  • Reduced manual workload: Data extraction, normalization and two-way matching are handled by KIP.ai, so the finance team focuses on reviewing exceptions rather than entering data.
  • Fewer discrepancies reaching the ERP: Discrepancies are identified and reviewed before results are pushed to the Goldsoft ERP, so only verified data flows downstream.

Key takeaways

  1. Two sources matched automaticallyKIP.ai extracts and normalizes data from supplier SOA files (PDF and CSV) and ERP goods received entries (CSV), then runs two-way matching between the two sources.
  2. Every discrepancy is flaggedResults are categorized into a Matched Records Report and an Exception Report. Every exception is flagged for the team to review and decide.
  3. Verified data goes back to the ERPApproved reconciliation results are pushed directly back into the Goldsoft ERP system.