Automating 2 & 3 Way Matching Sounds Great – What About Exceptions?Automating 2 & 3 Way Matching Sounds Great – What About Exceptions? http://echovera.ca/wp-content/themes/corpus/images/empty/thumbnail.jpg 150 150 Tim Robertson Tim Robertson http://0.gravatar.com/avatar/6847ba38495b3996e0bdf3a15c015e0c?s=96&d=mm&r=g
Software can automate the process of matching invoices, purchase orders, and goods receipts. Advanced 3 way matching matches invoices, purchase orders and goods receipts at both the header and line level, allowing staff to concentrate on more productive activity – as opposed to matching these 3 items manually.
Intelligent 3 Way Match has a cascading matching engine that can match invoices and POs with 100s of lines. It uses automation to speed up approval times and resolve exceptions efficiently. Here is an illustration of how the process works:
Automated Workflow Handles Exceptions
The approver receives a package from an automated approval workflow that includes an image of the invoice, any purchase order or goods receipt information, the messages between staff, and any other documents that are relevant to the transaction. The employee can approve the purchase and send the exception back to the ERP for payment, or with ad hoc routing pass it on to other managers in the organization who need to review and approve it as well.
What about non-PO invoices, or invoices that have no matching information?
If an invoice does not have a PO, or there is not any information about the goods received, the invoice is matched to the total or sent into an approval workflow for the manager(s) who is responsible for the purchase.
*Source: The State of ePayables 2018 – Ardent Partners
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