Efficient 3 way invoice matching is critical to profitability. Ensure that you are recovering every dollar you deserve in deductions and discounts and lock in your profits with Balances.

Reduce profit leakage with Balances

• Do you have a no-touch match rate below 90%?
• Does your A/P staff spend too much time reviewing, resolving and approving invoices?
• Do you miss cash discounts because your P2P cycle time is too long?

If you answered yes to any or all of these, then you need to know more about Balances.

There are many improvements retailers can make to improve operational efficiency. One area that is often overlooked but has significant impact to a retailer’s margin is invoice reconciliation. Many companies’ procure to pay process involves manual 3 way match between invoices, purchase orders and receipts. Leading companies automate this process and use work flow engines to quickly resolve the issue and process the correct payment at the right time. If discrepancies are not found and correctly resolved, your bottom line will be impacted. Balances integrates to your financial systems to close the loop on the procure to pay process. Invoices are matched or resolved and then automatically posted to the financial system.

Properly managing the P2P cycle in a fast paced, high volume retail environment with efficient use of labor hours is a key element to your overall profitability.

Tolerances. Retailers can choose to specify tolerances depending on whose favor the difference is for, Retailer or Supplier. The tolerances can be defaulted at varying levels: Product, Invoice, Supplier or Department. You can have different tolerances for EDI vs. manual entry of invoices.

Split / Merge. Split vouchers to pay multiple vendors, or merge vouchers to account for product received on multiple shipments with one invoice.

Routing & Escalation. Any discrepancies in cost or quantity can be routed to the appropriate department for resolution.

Payment Terms. The best terms are automatically selected from the invoice and purchase order when calculating the most favorable payment date.

Shorted Deals & Freight. We automatically track any deal amounts and freight dollars that were short shipped allowing you to bill-back the supplier for those lost dollars.

Benefits

• Increase productivity up to 30% with automation and work-flow
• Always get the best cost & payment terms
• Recover lost deal & freight dollars on shorted product
• No-touch match rates 90%+
• Historical review of all invoices