Why You Should Be Using Automated Purchase Order Matching
MineralTree’s award-winning AP Automation solution just got even better.
The traditionally painful and time-consuming process of comparing purchase orders to invoices has been transformed in a way that provides total efficiency and complete visibility.
What is Automated Purchase Order Matching?
Automated Purchase Order (PO) matching is a feature in MineralTree Invoice-to-Pay that streamlines the process of reconciling invoices to the appropriate purchase orders with a groundbreaking matching algorithm.
Upon receiving an invoice, Mineraltree now extracts invoice data, and automatically compares the invoice line items with PO data that is synced from your accounting system. When corresponding PO data is found, MineralTree’s software evaluates whether the lines match or not, and flags any disagreement.
See Automated Purchase Order Matching in action:
Why Should I Use Automated Purchase Order Matching?
If you value time and efficiency, then you should be leveraging Automated PO Matching.
With this feature, you will no longer need to manually compare POs with every invoice that you receive. Instead, you can rely on MineralTree to do this. Plus, we’ll highlight any discrepancies for review and reconciliation.
This critical task of verifying invoice amounts before payment will still receive all of the necessary attention it warrants, but will only require your intervention when it is absolutely necessary.
In addition, MineralTree enables you to set tolerance levels for mismatches.
By setting tolerance levels, you can account for slight disagreements that are a result of minor over/under estimation on the part of your vendor. When an invoice comes with a discrepancy that is within the range of your set tolerance level, it will move through the approval process without requiring any further attention.
The Auto PO Matching feature ultimately serves as another step forward in MineralTree’s mission to eliminate all inefficiency from the end-to-end accounts payable process.