E-Invoicing Leader Ensures Data is Complete for Two and Three-Way Matching
ALISO VIEJO, CA, October 23, 2015 – A common problem in accounts payable departments is difficulty with PO-invoice matching that may cause a high percentage of invoices in the exception state. The time and labor involved with physically lining up documents to match causes headaches within the AP world. Most ERP and AP systems have built-in mechanisms to perform two and three-way matching. Until recently, however, getting complete, accurate, pre-matched invoice data into the ERP has been an unaddressed issue.
While eliminating paper from the AP process used to be sufficient, now customers are looking for more. “A key part in our decision to choose Transcepta was their PO CloudMatch™ feature. We needed to eliminate paper but we also we’re very excited to move to a touchless process,” said Angela Boyd, FleetPride VP and Chief Accounting Officer.
Transcepta ensures that all required invoice data is passed through to your accounts payable system by validating invoices and handling rejected invoices back to the supplier. Depending on the sophistication of the supplier, Transcepta will utilize different validation approaches. This includes Transcepta PO CloudMatch, which uses intelligent algorithms to calculate PO line numbers where they would otherwise be missing. Customers with diverse supply chains can take advantage of Transcepta’s E-Invoice Validation Suite which combines Transcepta PO Flip, CloudMatch, and Transcepta Premium Validation in one easy to deploy licensing bundle. The end result is that submitted invoices are 100% accurate, complete and will have all the requirements necessary to perform the matching process.
Transcepta was founded in 2005 with the goal of making electronic invoicing (e-invoicing) for true accounts payable automation a reality, eliminating all paper invoices. Our belief is that the critical success factor for e-invoicing is supplier participation.
Transcepta is the only e-invoicing provider with PO CloudMatch, a service which uses intelligent algorithms to compare a purchase order to an invoice to calculate PO line numbers where they would otherwise be absent. This is particularly useful when a three-way match is required because it ensures there is enough data, including goods-receipt data, for the match to take place.
Transcepta removes the long standing barriers of cost, time, and complexity to supplier enablement by streamlining the connection process. Suppliers can submit invoices with their existing accounting or ERP system and process without an IT project or fees. Implementation typically takes a few minutes of a supplier’s time.
Transcepta is located in Aliso Viejo, California. For more information, visit www.transcepta.com/e-invoicing.