Invoice validation and invoice matching
Our invoice validation functionality automatically validates your supplier's invoices against pre-agreed business rules removing the need for manual intervention
Drive improved accuracy and efficiency
Typically reviewing supplier invoices for payment involves a manual process that can be a huge drain on the finance department. If there is an issue with an invoice, for example it does not match the purchase order or there is some missing information, there can be considerable delays as additional work required to resolve the issues - chasing suppliers for information or colleagues for authorisations – both of which are time consuming and ultimately costly to your business.
The TrueCommerce solution includes invoice validation functionality which automatically validates invoices created by your suppliers against pre-agreed business rules, ensuring data, formats and calculations are correct before they are sent to you for processing. The level of manual intervention required to process invoices for payment is therefore reduced and invoice match rates are improved with the optional automated matching of invoices against purchase orders, shipments and receipts.
The TrueCommerce service provides you with complete flexibility in terms of invoice validation, with rules configured for each supplier. The action to be taken when an invoice fails validation is also defined for each supplier or supplier type, with invoices being accepted with an email warning to the supplier, held for review or rejected. Suppliers are automatically notified of invoice validation failures so they act quickly to resolve the issue and resubmit their invoice or alternatively they can contact the TrueCommerce managed service team for guidance. Invoice are validated regardless of how they are submitted — by web EDI, integrated EDI, or PDF to EDI.
Our invoice validation functionality adds full visibility and transparency to your supply chain, which means you will no longer receive incorrect invoices. Our experience tells us that your suppliers will also benefit from the early warning that there is an issue with their invoice, as it will enable them to correct the issue immediately and ultimately avoid delays in receiving payment.