Currently, invoice matching (whether receivables or payables) is a mostly manual process with varying degrees of effectiveness. The cost of investigation has also led most companies to write-off amounts less than $500. Visibility has historically been poor.
Goals and Objectives
Visibility into invoices, invoice discounts, invoice deductions, and invoice matching means reconciliation can happen quickly and automatically, freeing humans up to doing more value added tasks.
Enterprise hardware, personal devices, cloud, big data and analytics, mobile, applications, connectivity services, cognitive, RPA, and blockchain
Use Case Summary
Quite simply it is an automated tool that matches invoices and takes discounts and deductions as appropriate. This is a rote task best done by automation and relieves people to do more strategic, value added work while potentially providing costs savings, improved productivity levels, and accuracy (fewer errors).