Purchase Order Matching (2 & 3-Way) for Accounts Payable Invoices
Invoice matching is a critical control step in the accounts payable process. The steps required to match invoices to purchase orders and receivers is a very manual and time consuming process.
It doesn't stop there with invoice matching.
What about invoices that don't match which are typically called, " exception invoices".
It doesn't stop there with invoice matching.
What about invoices that don't match which are typically called, " exception invoices".
Vision360 Enterprise AP Automation leverages a powerful purchase order matching engine that performs the task much like a human would. Invoices are matched electronically using a rules based engine that compares invoices, purchase orders and receivers to achieve straight through processing to gain process efficiencies and savings.
When purchase order invoices 3-way match, perfect! But what about invoice that don't match? According to a recent study of more than 200 companies using purchase orders it was found that on average 1-in-3 invoices don't match correctly causing, exception invoices.
Exception invoices require an enormous amount of manual intervention, back and forth between accounts payable staff and buyers as well as can cost an organization up to 10 times more to process that an invoice that process straight through.
With Vision360 Enterprise powerful rules based invoice processing engine exception invoices can be automatically routed to the appropriate buyer for review and correction without the need to burden the accounts payable staff with non-essential tasks associated with processing exceptions and eliminating the manual tasks.
Vision360 Enterprise makes 2-way, 3-way and 4-way matching a breeze for organizations of all sizes.
When purchase order invoices 3-way match, perfect! But what about invoice that don't match? According to a recent study of more than 200 companies using purchase orders it was found that on average 1-in-3 invoices don't match correctly causing, exception invoices.
Exception invoices require an enormous amount of manual intervention, back and forth between accounts payable staff and buyers as well as can cost an organization up to 10 times more to process that an invoice that process straight through.
With Vision360 Enterprise powerful rules based invoice processing engine exception invoices can be automatically routed to the appropriate buyer for review and correction without the need to burden the accounts payable staff with non-essential tasks associated with processing exceptions and eliminating the manual tasks.
Vision360 Enterprise makes 2-way, 3-way and 4-way matching a breeze for organizations of all sizes.
