Purchase Order (PO) Matching - Automate with AI

PO Matching is the process of connecting a purchase order (PO) issued by a client indicating types, quantities, and agreed prices for products/services to the invoice issued by a vendor for it's delivery. The goal of PO matching is to ensure timely vendor payments, correct accounting of costs and easy detection of fraudulent practices. PO matching involves several steps, including the receipt of invoice, capture of data, verification with purchase order, matching the parameters, and resolution based on various parameters. Invoice processing and PO matching are complex, time-consuming, and resource-intensive processes when performed manually, especially in scaled-up business activities. Even in departments where there is digitization of information in the form of Enterprise Resource Planning (ERP) applications, a significant amount of human labour is required; from the time an invoice is raised or received to its entry into the ERP application, accounts payable personnel perform a seemingly endless list of chores.