Purchase Order System: Invoice Processing & MatchingFeature In Depth
Trusted by a range of clients and businesses
Invoice & Credit Note Matching
Improve payment accuracy by matching supplier invoices and credit notes against the relevant purchase orders and goods receipts before approval. Users can compare what was ordered, what was received, and what has been invoiced or credited. This makes it easier to identify:
- Missing or undelivered items
- Duplicate charges
- Quantity or price differences
- Other invoice discrepancies
By checking each stage of the purchasing process against the others, teams can resolve issues before invoices are approved for payment. This helps you:
- Reduce manual checking
- Improve invoice processing accuracy
- Identify discrepancies earlier
- Avoid incorrect or duplicate payments
- Ensure suppliers are paid the correct amount
Quantity, Value & Variance Control
Improve invoice control by checking invoiced quantities and values against the original purchase order and recorded goods receipts before approval. Configurable variance tolerances allow you to:
- Set acceptable quantity differences
- Set acceptable value or price differences
- Allow minor discrepancies to proceed
- Highlight or prevent invoices that exceed agreed limits
This ensures invoices requiring attention are identified before they progress for payment, while acceptable variances do not create unnecessary delays. This helps you:
- Identify over-billing
- Spot incorrect quantities or pricing
- Reduce unnecessary manual checks
- Apply consistent tolerance rules
- Give finance teams greater control over what is approved for payment
Invoice Approval Workflows
Ensure invoices receive the right financial authorisation before they are released for payment. Once an invoice has been matched and checked, it can be submitted into an approval workflow where it is:
- Directed to the appropriate approver
- Passed through additional approval stages where required
- Held from payment until the necessary approvals are complete
This gives organisations greater control over when invoices can progress to payment. It also helps you:
- Prevent premature or unauthorised payments
- Apply financial approval controls consistently
- Maintain a clear record of approval decisions
- Ensure the right people authorise each invoice
AI-Assisted Invoice Processing
Reduce manual invoice entry by using AI-assisted processing to identify and extract key information from supplier invoices. The system can identify details such as:
- Supplier name
- Invoice number
- Invoice date
- Line items
- Quantities and values
The extracted information is prepared for review before the invoice is matched against the relevant purchase order, allowing users to check the data rather than enter it manually. This helps you:
- Speed up invoice processing
- Reduce repetitive data entry
- Improve consistency and accuracy
- Focus finance teams on exceptions and discrepancies
- Spend less time processing routine invoice information
Get your personalised Purchase Order Software quote or book a free system consultation
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