Learn how automated invoice matching is important for the supplier to prevent fraud, save money and keep proper documents for the audit trail: https://aavenir.com/what-is-2-way-3-way-matching/

1. How Effective is Invoice
Matching?

2. UK-based Research on AP facts
56% of businesses experience cash flow forecasting problems due to Accounts
Payable issues.
91% of companies regularly receive phone calls from vendors chasing payments.
23% of businesses had suppliers who refused to work with them again due to
Accounts Payable inefficiencies.

3. Challenges
● Handling multiple invoice data points
● Data mismatch
● Exception handling
● Cost per invoice processing
● Fraud and theft

4. How Does PO Matching Work?
● PO matching (purchase order matching) is the process of comparing information such as the
purchase order, goods receipts, and/or a contract.
● Three different levels of PO matching: 2-way & 3-way
These levels refer to how many supporting documents the invoice is matched against:
2-way matching verifies the invoice against its corresponding PO
3-way matching verifies the invoice against its corresponding PO and goods receipt

5. Steps to Perform a Two-Way Match
In a 2-way matching, the AP team compares the quantity and amount on
the invoice with the corresponding purchase order.
1. The quantity billed must be less than or equal to the quantity ordered
2. The invoice price must be less than or equal to the purchase order
price

6. Steps to Perform a Three-Way Match
Benefits of automating three-way matching
1. Save employee time
2. Improve supplier relationships
3. Protects against fraudulent and duplicate payments
4. Be audit ready

7. Impact of Automation in PO Matching
A survey by Levvel Research shows that quicker approval of invoices and increased employee
productivity are the top benefits:
25% Quicker Invoice Approval
19% Increased Employee Productivity
18% Improved Visibility over Liabilities
18% Lower Processing Cost

8. Free Demo Session
Get a live demo of Aavenir Source to Pay solutions to know how Aavenir can address
your enterprise's unique business challenges and goals.
We provide live demonstration for following Aavenir S2P solutions:
● Contractflow - Contract Lifecycle Management on ServiceNow
● Obligationflow - Obligation Compliance Management on ServiceNow
● RFPflow - Request for Proposal Management on ServiceNow
● Invoiceflow - Account Payable Automation on ServiceNow
Visit: https://aavenir.com/demo/

9. Get Free Resources
Steps to transform
Accounts
Payable
Free Download
Vendor Risk
Management
Test Drive
Invoiceflow
PO v/s Non- PO
Invoice
Processing
Transforming
source-to-pay
Watch webinar
Free Demo Explore now
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10. Delivering Future of Work
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