Automated invoice reconciliation

Conduct three-way matching between purchase orders (POs), receipts and accounts payable. Bots can be used to extract data from different systems like inventory management and enterprise resource planning (ERP) to compare the quantities, prices, and terms to what was ordered (with PO), to the goods received to what is being charged (invoice). If there are mismatches detected, the bot can send an alert and even initiate a process to resolve the issue.Automating the three-way matching process can save businesses a significant amount of time and labor since it eliminates the need for manual data entry and comparison. This can also improve the accuracy and reduce manual errors, leading to better supply chain management.

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