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.