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Invoice matching is vital for financial accounting and cash management. But it's manual and time-consuming.
Automated three-way matching with COR360™ makes it easy to get e-invoices accurately processed and paid.
Three-Way Matching – How it works
All invoices need to arrive in an electronic format from our supplier network, invoice virtualization center, or supplier invoicing portal.
Transaction information is then matched in COR360 and shared with your ERP/Accounts Payable system.
The matching algorithm
Our algorithm is configured with your business rules and tolerances to match incoming invoices against POs and receipt of goods. Invoices that are successfully matched are passed straight into your AP system.
SmartRouting™ for matching exceptions
Invoices that fail the matching rules can be routed based on the exception type to alert the appropriate individual to resolve the match exception. COR360 will continually attempt to automatically rematch the invoice as the exception is resolved.
Three-Way Matching – The benefits
Automated three-way matching has an immediate and significant positive impact on your business: