Capricorn members can use Capricorn preferred suppliers and also any other suppliers that they wish.
However, if purchasing from Capricorn preferred suppliers, then all of the member's purchases from preferred suppliers are consolidated onto a single monthly member statement. Currently, the members need to manually reconcile the consolidated statement with the physical copy invoices received from the suppliers and what they've entered into their Xero/MYOB.
From what I understand of the new solution, it accesses the source data from Capricorn that makes up the consolidated statement and reconciles it with the data entered into the Xero/MYOB and where any data from Capricorn is not already in Xero/MYOB. Once the first reconciliation period has been completed, the software will have a data map, similar to how the direct bank feeds work for Xero/MYOB, and hence the reconciliation time in future months is (theoretically) drastically reduced.
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- Ann: Capricorn to Launch Spenda's Statement technology to Members
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