Manual PO invoice matching can cost thousands (if not millions) in errors and eat up hundreds of staffing hours
You’re probably paying for items that never arrived. You’re missing out on early payment discounts. Your staff is spending countless hours on manual invoice reconciliation. The good news? The SPS Commerce Community solution streamlines the 3 way invoice matching process* by automating data exchange with your suppliers.
*3 way invoice matching is the process of matching an invoice against what was ordered and what was received before issuing a payment.
Manual PO invoice matching takes a toll
When your business was smaller, it was easier to reconcile your purchase orders against your invoices. But as your business has grown, you’ve started to notice a spike in costly human errors and mistakes from things like:
Slowdowns in reconciling processes lead to missed early payment discounts
The need to have dedicated staff to track down order and shipping documentation, and compare them manually
Running out of time to check everything, so you pay for the wrong quantity, price or shipping costs
But there’s hope…
Say goodbye to manually reconciling orders, shipping documents and invoices with the Community solution from SPS Commerce. Our solution ensures you get the data needed from suppliers to automate the 3 way invoice matching process between what you order, what you receive and invoices you pay.
With SPS Commerce, you can:
Stop paying extra for inaccurate, miskeyed or even fraudulent invoices
Speed up reconciliation time to take advantage of on-time or early discount incentives
Reduce or eliminate manual data entry staffing hours and human errors
Never lose or misplace an important purchase order or invoice
Ensure your trading partners are charging the correct amount for shipping––especially on split deliveries
See how having the right data from your suppliers can allow you to enable accounts payable automation and streamline the PO invoice matching process.
Solve manual PO invoice matching bottlenecks
“After 14 years, having less than a quarter of our supplier network connected was frustrating. We’d had the technology in place all that time, but SPS brought us a solution – a change management solution, as well as the technology. Manually reconciling orders, order changes, delivery notifications, and invoices is a huge task that, these days, should be handled digitally.”
– Head of Operations Planning, Sigma Healthcare
Get the data needed from suppliers to create an automated audit trail from order to invoice
Reduce the time spent reconciling invoices by up to 70 percent
Improve cash flow by increasing early payment discounts earned by up to 10 percent
Impact of up to $120-$150 per order
Let’s set up a time to have a conversation
Talk with an SPS Commerce specialist to receive recommendations specific to your business, learn how the 3-way match can improve your bottom line and why our solutions are trusted by more companies than any other solution provider