Automated 3 Way Invoice Matching

Automated 3 way invoice matching is an important process that helps companies make more accurate purchasing decisions. This method matches the exact quantity of goods and services on a purchase order to the corresponding invoice. The matching process begins when a vendor sends an invoice. The system checks the purchase order to make sure the invoice is accurate. It also reviews the costs and quantity of the goods and services to make sure that both parties are on the same page.

Faster than Manual Approvals

The process of manually comparing POs and invoices to the invoice can take a long time. However, the ability to automate the 3 way process can greatly cut the processing time and eliminate errors. Using an AP Automation solution can make this process simple and efficient, and it can also be tailored to fit any business size. By using a software solution, you can reduce the number of errors that occur when approving the documents.

Automate your Invoice Matching Process

Invoice matching can be a difficult process, as it requires accountants in the accounts receivable department to gather and collate paper documents for each transaction. It's easy to make mistakes, and figures can get lost or miscommunicated. It's also time-consuming to maintain all of the paperwork and keep track of the invoices. Migrating to an automated 3 way invoice match solution will help companies eliminate the risk of human error and save time and money.

Say Goodbye to Human Error

Automated 3 way invoice matching is the fastest and easiest way to make payments and minimize fraud. The process eliminates the need for human errors and ensures that data is consistent and reliable. The entire process can be automated with the use of software tools. This software can track purchase orders, invoices, and bill payments in one place. In addition, automated 3-way invoice matching can be used with AP Automation solutions like Webexpenses.

Reduce Auditing Costs

Automated 3 way invoice matching is an excellent solution for businesses to make their purchasing transactions more accurate. Unlike manual methods of matching, the process is much faster and more accurate. It can automatically identify discrepancies in purchasing  and reduce the time and effort required for manual processing. Additionally, it can help you avoid any audits that might occur and ensure that all your numbers match up. If you have to submit more than one invoice per day, this technology can help you save time and money.

A Complete AP Automation Solution for Businesses

The benefits of automated 3 way invoice matching are numerous. Its benefits include prevention of fraudulent payments and increased productivity. Invoices are often issued in different ways - a customer might receive a different product or service than your company intended. For example, a buyer can make a purchase from a supplier who isn't familiar with the product. In addition to the accuracy of the payment, it can save a business a lot of time and money.

Conclusion

If you're still doing things the old-fashioned way, it's time for an upgrade. Automated invoice matching can take your business to new heights and leave your competition in the dust. Imagine a world where invoices are automatically approved - no more waiting on human approval. Sounds like a dream come true, right? With Webexpenses solution, that dream can become a reality. Say goodbye to wasted time and say hello to efficiency. Ready to make the switch? Contact us today for a free consultation.