The traditionally painful and time-consuming process of comparing purchase orders to invoices has been transformed in a way that provides greater efficiency and increased visibility.
What is Automated Purchase Order Matching?
Automated Purchase Order (PO) matching is a feature in Business Payment Automation Invoice-to-Pay that streamlines the process of reconciling invoices to the appropriate purchase orders utilizing a matching algorithm.
Upon receiving an invoice, Business Payment Automation will extract the data and automatically compare the invoice line items available from your accounting system. When corresponding data is found, the Business Payment Automation software evaluates whether the lines match or not, and flags any disagreement.
See Automated Purchase Order Matching in Action:
Why Should I Use Automated Purchase Order Matching?
If you value time and efficiency, then you should be leveraging Automated PO Matching.
With this feature, you will no longer need to manually compare POs with every invoice that you receive. This critical task of verifying invoice amounts before payment will still receive all of the necessary attention it warrants and will only require your intervention when necessary.
In addition, Business Payment Automation enables you to set tolerance levels for mismatches. By setting tolerance levels, you can account for slight disagreements that are a result of minor over/under estimation on the part of your vendor. When an invoice comes with a discrepancy that is within the range of your set tolerance level, it will move through the approval process without requiring any further attention.
The Auto PO Matching feature ultimately serves as another step forward in Business Payment Automation’s mission to eliminate all inefficiency from the end-to-end accounts payable process.