It’s five o’clock on a Friday. You’ve been processing invoices for hours and just want to go home. Several invoices have Purchase Order (PO) exceptions that can only be resolved by other employees in your organization. As much as you love chasing down people in purchasing, and playing phone tag with the employee who placed the order, the fun and games need to end. To top it off, your CFO has mandated getting pre-approval on POs, starting in 2012.
Drat! Forget about the weekend…
Maybe it’s time to let Concur do the match-work for you. Concur is excited to introduce PO Matching, a great new feature in our Invoice Management solution.
How does it work?
If you have an existing PO in your ERP system, we’ve got you covered. We’ll match the invoice to the PO, highlight any discrepancies and verify with the employee who placed the order (the invoice owner) that goods and services have been satisfactorily received.
POs continue to be created and approved in your current system. When an invoice is captured in Concur, the match process identifies any discrepancies to previously agreed-upon prices, quantities and other criteria that are important to you. Match rules are simple to configure and can accommodate a range of tolerances.
Invoice owners (the employees who placed the order) see all invoice types in one list, with discrepancies clearly identified. Companies can control who can make corrections and see who is working on an invoice at any point. With Concur, nothing slips between the cracks and the invoice cycle time remains low.
What’s special about Concur’s solution?
Concur provides a comprehensive solution for AP automation, including both invoices and employee expense claims. There is one consistent interface and a set of powerful reporting tools across both expenses and invoices. In addition, we leverage our powerful routing capabilities to streamline communication between invoice owners and purchasing. And unlike many ERP modules, where rules may be run infrequently, you can rely on Concur to update match status automatically, based on any relevant change.
What are the benefits of PO Matching?
Identifying invoice-to-PO discrepancies can be hard enough without an automated system. Even with automation, such as an ERP PO module, match rules may run infrequently and resolution communication can be difficult. Concur's PO Matching feature makes it easy to identify and resolve discrepancies. You’ll also save the time it takes to track down discrepancies as well as to resolve them. Plus, you can help to ensure control by gaining better visibility into how your company spends money.
End the confusion, the games of phone tag, and the need to chase people down (at least when it comes to invoices). It’s time to have the weekend all to yourself again.
Want to learn more about Concur’s Invoice Management solution and PO Matching feature? Contact your account or sales representative.
For more on Concur Invoice, watch this How It Works video.