The benefits of automating 2- and 3-way matching are massive:
- No need for manual approval of invoices
- Great efficiency for AP, buyers, procurement, supply chain and vendors
- Shorter invoice approval cycle time
- Stronger supplier relationships
Here is how AP automation empowers your AP department to excel at 2- and 3-way matching:
- AP automation ensures that invoices are matched with purchase orders and receiving data, verifying the accuracy and validity of each order.
- The best AP automation platforms don't rely on OCR to capture invoice data from suppliers. Common issues like “read errors” and the need to update “OCR maps” mean AP has to touch every invoice. This defeats the goal of 2- and 3- way matching. The most effective approach to OCR? Skip it entirely. Make sure to choose an AP platform that doesn’t rely on OCR for invoice capture.
- The best AP automation platforms use Digital Supplier Networks, which create a feedback loop with suppliers, allowing them to resolve invoice issues before they even reach your AP inbox. This means invoices will straight-through process and arrive “ready to pay” into your ERP.
Curious to learn more? Contact us today and turn 2- and 3-way matching into a powerful tool for efficiency and accuracy.