Payment Times Reporting Scheme Management (PTRS)
Automate the payment times reporting process and benefit from efficiency and 100% accuracy.
Ensure you are PTRS ready
Large businesses and large government enterprises will need to report their SME payment terms and times processed.
Although for the first year there will be no penalties or enforcement of this act, non-complying companies will still be listed on the registrar’s website from 2022, this act will be enforced with significant penalties and media publication of non–conforming entities. With increased pressures on SME businesses, additional scrutiny from the regulator will result in an increased risk of financial and reputational damage in the event of non-compliance
PTRS is not just about reporting to the regulator, but ongoing monitoring and improvement of SME spend.
Gain value from your PTRS obligations
Automate the PTRS reporting process and comply with your organisation’s obligations in an efficient and accurate manner.
Gain benefits outside of a pure compliance obligation such as improved processes and master data accuracy.
Monitor supplier activity to ensure compliance and optimisation of SME spend.
Provide assurance to executives that your organisation’s PTRS reporting is complete and accurate.
The Satori Solution
Satori is a Software as a Service that offers automated, continuous control monitoring across any process within your organisation.
The Solution’s workflow manages exception output to ensure follow-up in a timely manner by the team or the person of responsibility. Each exception is investigated and closed out with a defined issue, action, and root cause.
Satori’s Dashboards provide management with real-time visibility on what issues are occurring and their root causes, enabling opportunities for process improvements.
Satori for Payment Times Reporting Compliance
Automated PTRS Management
- Spend against PTRS targets
- Vendors with missing or incomplete data
- Invalid ABNs
- Potential duplicate vendors
- Vendor classification
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