The add-on module everyone with inventory needs

Managing purchase invoices is one of the most time-consuming tasks in the finance department. Now, thanks to automation and artificial intelligence, the future of PO match looks promising.

The add-on everyone with inventory needs

PO Match, or "Purchase Order Matching," is an important process where purchase invoices from suppliers are matched against the original purchase orders. The aim is to ensure that what was ordered is what was actually received and ultimately invoiced.

This process can be carried out at both head and line level, and Compello's PO-Match module makes it easy and efficient.

Here's how it works:

1. Data import: The system imports open purchase orders and associated goods receipts from your purchasing or ERP system, so everything is ready for matching.
2. Automatic matching: When an invoice is received, the order number is automatically compared with existing purchase orders to find a match.
3. Line item reading: For invoices received as EHF, or through our invoice reception service, the system analyzes each item line for an exact match.
4. Head matching: When specific item line information is missing, the system matches the invoice based on the total invoice amount compared to the received order lines.
5. Manual handling: In case of discrepancies, the system allows manual search and matching against relevant order lines for complete control.

PO-Match gives you accuracy and control

PO-Match is particularly relevant for companies that want to ensure accounting accuracy, avoid over-invoicing and mispricing, and maintain full control over their purchasing processes.

5 Benefits of using PO Match:

1. Automating the procurement process: PO Match automates the process of matching purchase orders (POs) with invoices and deliveries. This reduces manual effort and errors, and increases the accuracy and speed of purchase order processing.
2. Ensure that purchase agreements are followed: PO Match helps ensure that purchases are made according to agreed terms and prices. By matching invoices to purchase orders and contracts, you can identify discrepancies and avoid incorrect invoicing or overpayment.
3. Improve financial control: PO Match improves financial control by ensuring that invoices are matched to valid purchase orders and that prices and quantities are correct. This prevents overpayments, double payments or payment for items not ordered.
4. Streamline the purchasing process: By using PO Match, the purchasing process can be streamlined by automating the checking of invoices against purchase orders and receiving notifications of any discrepancies. This reduces the time and resources spent on manual checks and administration of the procurement process.
5. Better reporting and analysis: PO Match provides better insight into purchasing data and the ability to perform analysis to identify patterns, trends and discrepancies. This contributes to informed purchasing decisions, improves the supply chain and enables better negotiations with suppliers.

Traditionally, an employee has to manually compare the purchase order, the receiving document and the invoice to ensure that all three documents match. Is the quantity and price correct? Have the goods been received as described in the receiving document? If there are discrepancies, they need to be investigated and resolved manually, which may involve contacting suppliers to clarify errors or discrepancies. This can lead to inaccurate payments, delays and increased costs.

By automating PO matching, you get a more efficient and accurate process.

Integrations

Compello offers advanced automation tools that can help your business achieve these benefits and improve invoice management.

Start your automation journey today and experience the difference!

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