Invoice Matching with Line-Level Precision
Are manual invoice matching processes slowing down your Accounts Payable team?
Discover how Kefron AutoMatch uses AI to streamline line-level invoice matching, eliminate errors, and improve payment accuracy.
Say goodbye to delays and hello to smarter, faster AP processes with Kefron's cutting-edge automation tools.
The Hidden Costs of Manual Invoice Matching
A Top AP Challenge
According to Kefron’s global research of over 1,200 finance teams, invoice matching consistently ranks among the top 5 pain points for Accounts Payable professionals worldwide.
Why It Matters
Matching supplier invoices to purchase orders (POs) and goods receipt notes is a time-intensive process, often riddled with errors that create unnecessary frustration for AP teams.
The Impact of Line-Level Discrepancies
Mismatched data causes bottlenecks, payment delays, and strained vendor relationships, forcing AP teams to dedicate valuable hours to reconciliation instead of focusing on strategic priorities.
AutoMatch: Line-Level Invoice Matching Made Easy
AutoMatch brings AI-powered automation to invoice matching, transforming a traditionally manual process into a touch-free, error-free operation.
By analysing and reconciling invoices against POs and goods receipts at the line-item level, AutoMatch reduces processing times and ensures greater payment accuracy.
Exception Handling Made Easy
AutoMatch efficiently identifies discrepancies at the line-item level and provides actionable suggestions to resolve mismatches quickly. This ensures a smooth reconciliation process, reducing delays and enhancing accuracy.
Real-Time Performance Tracking
The PO Matching Dashboard delivers real-time insights into your AP performance. Track your monthly touch-free score, typically achieving 75-85%, and get actionable tips to boost efficiency.
AI-Powered Line-Level Matching
AutoMatch uses advanced AI technology for touch-free matching against purchase orders and goods receipts. It streamlines complex tasks, reduces manual effort, and ensures precision at every stage.
Who Benefits from Line-Level Invoice Matching?
Ease for AP Users
Experience a user-friendly solution with automated matching that eliminates the need for repetitive, manual checks.
Efficiency for AP Managers
Enjoy reduced manual workloads, improved visibility, and enhanced control over invoice matching and payment cycles.
Confidence for CFOs and Financial Controllers
Gain trust in the accuracy of AP processes, with payments that seamlessly align with purchase and delivery records.
Key Benefits of Automated Invoice Matching
- Effortless Compliance
- Faster Resolutions, Fewer Delays
- Lower Costs, Higher Efficiency
- Stronger Supplier Relationships
- Scalable Solution for Growing Businesses
- Data-Driven Insights for Strategic Decisions
Automated invoice matching ensures every payment aligns with internal policies and external regulations. By eliminating manual errors, businesses reduce the risk of audit findings and compliance violations.
- Advanced Control: Full visibility into audit trails and matching processes ensures tighter regulatory adherence.
- Global Compliance: Stay aligned with local and international tax and invoicing standards effortlessly.
Tackle mismatched invoices head-on with AI-powered exception management that identifies discrepancies at the line-item level.
- Proactive Notifications: Alerts for mismatches ensure quick action to resolve issues before they escalate.
- Intelligent Recommendations: Suggested fixes simplify decision-making, speeding up approval workflows.
Replacing manual invoice matching with automation significantly reduces operational costs while increasing productivity.
- Labour Efficiency: Free up your AP team to focus on strategic tasks rather than repetitive matching processes.
- Error Reduction: Minimise financial loss caused by human error in invoice processing.
Ensure payments are made accurately and on time, fostering trust and long-term partnerships with suppliers.
- Consistent Payments: Accurate matching means no missed or delayed payments, strengthening vendor loyalty.
- Dispute Reduction: Clear invoice reconciliation processes minimise supplier conflicts and disputes.
Adapt seamlessly to increased invoice volumes without overwhelming your AP team, thanks to scalable automation.
- Future-Ready: Handle high transaction volumes without performance bottlenecks.
- Flexible Integration: Easily connect with existing systems, making growth and upgrades hassle-free.
Real-time dashboards offer detailed analytics to optimise your AP process and boost efficiency.
- Touch-Free Scores: Track and improve your touch-free invoice matching rate, aiming for a benchmark of 75–85%.
- Customised Reporting: Access tailored insights to make smarter, faster financial decisions.
Before Kefron AP, processing and approving invoices would take about 3 days. Now, I’ll probably spend an hour. It also made month end much easier. I just finished month-end in 2 days, when before it would have taken a week or 2 to catch up. The ability to see all invoices on the Kefron AP system, and see at what stage each invoice is at, makes the process a lot easier.”
Ready to Automate Your Invoice Processing?
Talk to an AP Specialist
- Calculate the true cost of your current AP process
- Identify bottlenecks
- Assess if your AP process is suitable for automation
- Calculate the real business case for AP Automation
FAQ: Invoice Matching and PO AutoMatch
What is invoice matching in accounts payable?
Invoice matching is the process of comparing a supplier’s invoice with related purchase orders (POs) and goods receipt notes to ensure all details align. It’s a critical step in the accounts payable process to verify accuracy before approving payments.
How does automated invoice matching work?
Automated invoice matching uses AI-powered systems like PO AutoMatch to compare invoices with purchase orders and goods receipts. These systems flag discrepancies, suggest corrections, and process matched invoices without manual intervention, saving time and reducing errors.
What is line-level invoice matching?
Line-level invoice matching involves comparing each individual line item on an invoice with the corresponding line items on the purchase order and goods receipt. This ensures a more detailed and accurate reconciliation process compared to summary-level matching.
Why is automated invoice matching important?
Automating invoice matching reduces manual effort, prevents errors, accelerates payment cycles, and ensures compliance with regulations. It’s essential for AP teams dealing with high volumes of invoices.
How does PO AutoMatch improve matching?
PO AutoMatch streamlines the process by:
- Automating touch-free matching with AI.
- Flagging discrepancies and suggesting fixes at the line-item level.
- Providing real-time insights and performance tracking through the Kefron AP Dashboard.
What is a touch-free score in invoice matching?
A touch-free score measures the percentage of invoices processed without manual intervention. With PO AutoMatch, businesses can achieve benchmarks of 75-85% touch-free processing, significantly reducing workload for AP teams.
Can invoice matching automation integrate with existing systems?
Yes, solutions like PO AutoMatch are designed to integrate seamlessly with ERP and finance systems, ensuring smooth adoption without disrupting current workflows.
What types of businesses benefit from automated invoice matching?
Automated invoice matching is beneficial for businesses of all sizes, especially those with high invoice volumes, complex procurement processes, or a need for detailed reconciliation at the line-item level.
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