Invoice Matching and Reconciliation

Invoice matching and reconciliation with DCS invoice processing software

Even a conservative cost per invoice calculation will show you how much you can save by automating your invoice processes. A key element in cutting invoice processing costs is reducing the number of exceptions by automating invoice matching and reconciliation.

Invoice matching and reconciliation with DCS invoice processing software Using DCS invoice processing software, your accounts payable departments can significantly reduce time-consuming, error-prone manual invoice matching tasks resulting in faster approvals and a higher number of invoices being processed straight through (STP) to payments. Invoice automation software from DCS is customisable to match your invoice workflow and allows:

2-way invoice matching

Invoice scanning and capture firstly extracts information such as supplier name, purchase order number and invoice amount. A workflow then automatically applies rule based matching of captured invoices to purchase orders in your ERP database without any manual intervention.

Different workflow rules can be implemented for different purchase order classes such as pre-approved purchase orders, contract based purchase orders or multi-purchase order invoices. Depending on the results, the invoice will automatically enter the right workflow for coding, approval and payment. In the event of discrepancies or unmatched invoices, an exception handling workflow is triggered routing invoices to the appropriate query handler.

3-way invoice matching

DCS has also helped companies set up 3-way invoice reconciliation with matching against both purchase order and goods received note (GRN). This process essentially involves the additional stage of GRN scanning, capture, data extraction and storage.

Further multi-way invoice matching options can be implemented incorporating other documentation such as inspection lists and itemised bills. The invoice information is reconciled with these documents and unmatched invoices are routed in exception workflow for quick resolution.

More workflow benefits for invoice matching and invoice reconciliation

DCS invoice processing workflows empower accounts payable departments to meet wide-ranging requirements:

Check the status of an invoice at any stage
Identify invoice processing bottlenecks quickly
Obtain granular reporting, tracking or KPI information via management dashboards
Multi-site purchase order creation
Multi-site invoice receipt and capture
Multi-site approvals

What is the most efficient way to process an invoice?

Speak to a DCS consultant today on 01753 616720 to find out how to streamline your purchase to pay process; or complete our contact form for a fast, tailored response.

Free Downloads

Read how a large property management organisation cut invoice payment time by 50%.

Control everything from requisition, approvals, matching and payments with automated supplier invoice processing.

Client Testimonials

With the DCS system we have experienced a reduction in both data entry and invoice processing costs. Processing accuracy has noticeably improved and overall processing time is now much lower.

AP manager, property management company

“Last year following a tax audit we had to pay a bill of over £50,000 as we could not locate invoices relating to certain expenditure. I am now confident that with our new invoice automation solution that this would not happen again.”

"We can now control everything from requisitioning, approvals, matching and automated supplier invoice processes within a single console. It was far cheaper and easier to implement than doing it within our current ERP system."

"Our accounts payable team can now process more than double the amount of invoices they could previously and we have also reduced the approval process time by 30%."

£50,000 fine for missing invoices