Avoid duplicate payments and wrong payment terms
This user-friendly app detects duplicate invoices using advanced logic. It also compares invoice and vendor master data payment terms, helping to prevent overpayments, such as missed discounts due to inconsistencies between negotiated terms and invoice entries.
Benefits
Use the best payment terms available and avoid overpaying incoming invoices
Users receive a list with invoices which do not have the optimal payment terms or might be duplicates. For instance, a vendor might send an updated invoice, but the original invoice was not cancelled yet. The app also checks the payment terms and helps to ensure you do not miss discounts.
Reduce manual effort for internal controls
You have internal controls for payments already in place. Our app will reduce the effort to review invoices and payments, freeing up time to focus on more important things.
Prove compliance to auditors
Manual checks are often time-consuming, and then proving compliance to auditors is even more time-consuming. With this app you have your internal control in the same place as the full audit trail, making it easy to prove compliance.
Features
Check for duplicate invoices and payments
The app uses advanced logic to compare the similarity between invoices. Here is an example of what can happen: You receive a corrected invoice from a vendor. The invoice number and amount, and potentially the vendor, are different. Our app checks similarities and can detect such cases.
Detect and Avoid Wrong Payment Terms
Procurement negotiates payment terms and saves them in the vendor master data, or puts them in a PO. What happens when a vendor sends invoices with different payment terms? We help you detect them and fix it!
Create a full Audit Trail of Invoice Review Activities
Document and review all decisions and actions taken, making it easy to prove compliance to the auditor. Users can approve or reject invoices, providing explanations for their decisions.
