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As the worldwide leader in electronic audit confirmation solutions, recently expanded its services with a brand new electronic AR/AP Confirmation application. Up until now, auditors created AR/AP confirmation requests using some type of mail merge functionality and sent those out to responding entities by mail, email or some other delivery method with little or no ability to track responses or monitor for fraud. This new product offering transforms the outdated mail-merge process into a much more efficient one with the following time-saving and fraud control features:

Send AR/AP Confirmations to 1,000+ Validated In-Network Companies Auditors can now send electronic Invoice and Balance confirmations to 1,000+ validated In-Network company responders who are authenticated and authorized to respond to electronic confirmations. These companies represent a majority of Fortune 1,000 companies including CBS, Delta Air Lines, HCA, Lowe’s, Marriott, Microsoft, Sherwin Williams, Sprint, Williams-Sonoma, and many more.

Send AR/AP Confirmations to Any Company in the World

For confirmations going to companies outside the network, auditors can use the Out-of-Network service to send the confirmations electronically, or may choose to mail the confirmations utilizing the new Paper Fulfillment Service (see below). Just like electronic confirmations, paper confirmations now utilize the digital client signature feature so that auditors don’t have to hand deliver or mail paper confirmations to the client for signature.  

One-Touch Batch Upload

This feature allows auditors to easily upload hundreds or thousands of company addresses and invoice data from a spreadsheet with the single touch of a button. automatically identifies which company is a validated responder within the system and allows the auditor to send confirmation requests electronically to that validated responding entity. For non-validated companies, the auditor can choose to send those requests using the new Paper Fulfillment Service (see below) or the out-of-network electronic offering.

Paper Fulfillment Service handles the materials, printing, postage, and shipping, and also provides an Address Verification report on the auditor-supplied mailing address to help auditors identify fraud. Paper requests are shipped and tracked through First Class mail throughout the United States and Internationally! As with electronic confirmations, a copy of the mailed confirmation request is automatically logged in the auditor’s Control Log where auditors have multiple capabilities like the ability to send second requests, recall paper confirmations and queue paper confirmations with a future date.

Summary’s new AR/AP Confirmation service makes it infinitely easier for auditors to send out their confirmation requests. Auditors for the first time ever can use one electronic tool to send and receive BOTH electronic and mailed confirmations to anyone anywhere in the world, and do so with key new efficiency and fraud detection features like never before!