Visit [ Ссылка ] to get a free personal demo today!
3 way match is best practice when it comes to accounts payable. But 2 way match in accounts payable is ‘good enough’ for many accounting departments.
What are 3 way match and 2 way match in accounts payable? Why do they matter? And how does AP automation make 3 way match and 2 way match simple?
With so many details to review, 3-way matching can be a tedious process if done manually.
Typically with a manual match, a member of the accounts payable team gathers all the relevant paper documents in a transaction in order to satisfy the matching procedures. He or she looks at each line of each document to make sure they all match.
Now imagine a transaction with a 10 page line item PO. Someone has to match it to a 10 page PO invoice. AND match it to a 10 page packing slip. That’s a LOT of lines to match. And that’s for ONE invoice!
Manual invoice matching is even more difficult when a PO remains open for months or even years.
And, worse, people can lose paper documents and misread figures. Any manual system is subject to both human error as well as fraud.
Plus, managing stacks of paperwork and invoices is a repetitive and soul-sucking task that is incredibly inefficient and destroys employee morale.
Manually matching purchase orders is a nightmare!
That’s why so many companies are turning to AP automation solutions that include automated 3 way and 2 way PO matching.
And CoreIntegrator Enterprise for enterprise-sized companies as well as A/P One AP automation for small and medium sized companies provide automated PO matching.
CoreIntegrator systems can automatically compare the three critical PO documents (PO, Receipt/Packing Slip and Invoice) and highlight any discrepancies between them using OCR technology.
But now CoreIntegrator solutions include SmartMatch – a revolutionary advance in automated PO matching. Click or tap here to read more about SmartMatch!
This brings massive efficiency to processing PO invoices, freeing your AP staff up to save your company money!
And it can also enable you to be eligible for early pay discounts on invoice payments.
At the same time, CoreIntegrator’s AP automation solutions bring accounts payable best practices to your accounting department.
