Do you need to improve your accounts payable processes? Looking to reduce the manual intervention required to check and approve supplier invoices?
- Reduce invoicing errors
- Free up your accounts payable department
- Reduce the time to approve invoices
Typically reviewing supplier invoices for payment involves a manual verification process that is too often a drain on the accounts payable department. Delays and additional work are frequently caused by invoices that do not match upstream documents or are incorrectly presented, for example, duplicate invoice numbers or incorrect VAT calculations. The accounts payable department subsequently need to chase suppliers for information and internal personnel for authorisations – a time consuming and costly process.
Invoice Matching / Validation
TrueCommerce’s e-invoicing managed service reduces the level of manual intervention required to clear invoices for payment, with invoice validation rules that ensure data, formats and calculations are verified. Invoice match rates are also improved with the optional automated matching of invoices against purchase orders, shipments and receipts.
TrueCommerce’s invoice validation provides complete flexibility, with rules that can be configured for each supplier or type of supplier. Failed invoices can be accepted with a warning back to the supplier, held for review or rejected. Suppliers are automatically notified of invoice validation failures allowing them to correct the error and re-send the invoice.
Not only are there huge benefits to the buyer, suppliers also appreciate the early warnings that there is an issue with their invoices, as it enables them to correct issues immediately and ultimately avoid delays in receiving payment.