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What is 3-way matching and why is it important?

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Three-way match should be incorporated into accounts payable processes whenever you need to ensure the accuracy and validity of invoices — in other words, whenever possible. In accounts payable, the primary benefits are: Catch fraudulent invoices. When should you use a 3-way match?

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Leading analyst IDC recognizes innovation in procurement solutions.

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For decades, the many steps and stakeholders in large enterprise purchasing meant procurement teams had to rely on heavyweight, expensive solutions, while mid-market companies either had to adopt one of those overly cumbersome solutions or throw some ad-hoc procedures together to try to control spend. Accounts payable and procurement.

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Spend under management: The procurement KPI you should be tracking at any stage.

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This is referred to as spend under management (SUM), and is an extremely useful KPI at any stage Centralizing a decentralized world. SUM is a basic procurement metric that measures the proportion of an organization’s total managed and controlled spend through procurement processes.