Three way match ap12/14/2023 ![]() ![]() The good news is that there is a solution for the limitations of the three-way match: Star Match, which uses artificial intelligence to cross-check the accuracy of documents and transactions-including expenses, invoices, -against AP systems, contract management, and expense reporting software internal business systems data and external signals from online sources. Address the shortcomings of the three-way match with artificial intelligence The three-way match offers no visibility into questionable employee spending. The average enterprise deals with thousands of expense reports each quarter, often overwhelming human auditors who may miss high-risk expenses and common misconduct like duplicate charges and mileage padding. The three-way match doesn’t check employee expense reportsĮven if the three-way match works fine for your purchasing department, it won’t catch employee expense reports, which are processed through their own system, completely separate from AP. The three-way match won’t catch fake merchants, billing errors, or violations of payment terms. Aware of the sheer volume of invoices many business receive, clever criminals can thwart the three-way match by creating fictitious companies, enacting phishing scams, billing for products that were never delivered, overcharging for products, or inflating shipping charges. The three-way match still leaves you open to fraudĪnd outright fraud is a big problem. This data is important for creating a profile of contractor and service provider activity levels so you can make sure you’re actually receiving the work you’re paying for. The three-way match doesn’t confirm that services were actually performedīecause of its limited sources of data, the three-way match doesn’t integrate with business systems to verify key fob swipes, messages sent, or software licenses. These data can affect your bottom line: longer payment terms help you improve cash flow and maximize profits. ![]() Again, the three-way match only verifies price and unit numbers across invoices, purchase orders, and receiving documents, but it doesn’t check critical information like volume discounts, payment terms, delivery times, transport conditions, chain of custody, service-level agreements, and more. ![]()
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