Satori Automated Payment Times Reporting Scheme Management

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

Monitor Accounts Payable

Automated PTRS Management

  • Spend against PTRS targets
  • Vendors with missing or incomplete data
  • Invalid ABNs
  • Potential duplicate vendors
  • Vendor classification

Millions saved from one test of procurement data that detected a years-long fraud, fuelled by a gambling debt. The case went to Court and there was a conviction.

Large ASX Listed BusinessChief Financial Officer

What’s included

Performance Reports

High-level system performance and identification of areas for control, policy or process improvement summary.

Environment

The Satori solution includes server, software, installation, and maintenance of software.

Implementation

Implementation of initial tests with configuration of your workflow and visualisation.

User Training & Management

Best practice end-user training to close exceptions and operation of the solution.

Daily Health & Admin

Satori’s experts act as a System Admin Manager and provide daily health checks on your server and data loads.

Ongoing Refinements

We work with you on an ongoing basis to refine your tests, ensuring the exceptions are delivering the required outcome.

Executive Dashboards

A realtime overview of what exceptions have occurred, what has been followed up and what is potentially overdue.

Additional Tests

We work with you on data quality improvements and new tests to increase coverage or cover gaps on controls.

Local Support

The Satori Customer Success and Support team are APAC based providing support even through holiday seasons.

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“Satori takes our data, puts it through their magical system, and presents it back to us in an actionable format.”

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