Recover 3% of your Cost of Sales
itim has the market-leading solution for advanced invoice matching. It outperforms the competition in its ability to match, process and move documents at an unsurpassed volume and apply this speed and scope to the widest range of tasks.
Invoice matching can be a labour intensive and error-prone process. With itim Invoice Matching (Didos), you can automate much of this work and recover significant amounts in supplier overcharges. It can automatically:
One client recovered £1.7M within a year on a Cost of Sales of £50M.
adding retail value
Itim Invoice Matching helps retailers improve financial performance through:
Overcharge recovery – on average, our invoice matching clients recover approximately 3% of total supplier invoice value in overcharges
Cost savings – by reducing clerical effort, paying invoices to term and claiming settlement discounts
Improved profitability – through more accurate cost prices and stock figures and by accepting undercharges
More accurate accounts – by accounting for all stock adjustments and all differences between the invoice and receipt
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Advanced invoice matchingBring together related invoices, credit notes, receipts and returns and verify that invoice values (irrespective of currency) are within predefined supplier tolerances and match the value of goods received. By matching at line level and automatically raising credit claims or debit notes for overcharges, itim Invoice Matching can typically match up to 95%, of invoices first time. |
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Automated query resolutionWhen intervention is needed, itim Invoice Matching routes price and quantity queries automatically and provides the tools and workflow to query and resolve any outstanding issues. It can automatically create and send debit letters, requests for credit and proof of delivery. This provides control and efficiency over the entire invoice authorisation cycle. |
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Supplier portalShare information and documents in real time with suppliers via a secure, easy-to-use debit note portal. Comments and actions are captured and displayed for both parties, keeping everyone in the loop. Using the portal, you can advise designated suppliers of upcoming debit notes as soon as possible, giving them time to respond before they pass to ledgers. |
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E-invoicingRoute electronic invoices directly into the itim Invoice Matching system, saving time, money and paper. Our EDI PLUS service is available to connect directly with your suppliers and our InvoiceHub collaboration portal provides an additional option for receiving invoices electronically. |
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Rapid ROISignificantly reduce cost and have more accurate accounts. We are so confident that a rapid return on investment will be achieved with itim Invoice Matching, we will calculate this for you based on your staff, invoice and overcharge numbers and Goods Receiving and Cost Price errors. Contact us to find out more. |
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IntegrationIntegrate easily with a wide variety of financial and ERP systems. The value of itim Invoice Matching can also can be extended beyond the finance department to other business IT investments. |
Handles extremely high volumes Sophisticated data entry screens Full audit trail of transactions Integrated EDI, XML and scanning Debit reversal for accepted disputes Integration with a wide variety of systems
“The implementation of itim Invoice Matching [Didos] went smoothly and has been a great success. We were impressed by the knowledge, effectiveness and prompt support from the entire itim team, who worked seamlessly with us. Now that we are live on our JD Sports, Go Outdoors, Blacks and Tessuti fascias, we are already starting to reap the benefits and look forward to building further on what we've already achieved."
“Having seen other products, itim Invoice Matching [Didos] is the best one I’ve seen. It handles the high volumes and is very flexible, but most importantly it just works! I can’t recall a time when it’s gone down or that we’ve had a major issue. It’s become part of our DNA."
“Thanks to itim Invoice Matching [Didos] and our streamlined invoice matching processes, we have made considerable savings. It has also helped create more accurate stock levels across our entire business."
“The single biggest improvement that working with itim has brought us is within finance. Invoices get matched automatically, the information is stored electronically… just the improvement in process has been unbelievable. We process about 60,000 invoices a year and we’re still able to do that with a team of three which, if it wasn’t for itim Invoice Matching [Didos], we would not be able to handle."
"From the initial engagement with itim, their professionalism and support has been exemplary, both in advising on best practice options and helping tailor itim Invoice Matching [Didos] to meet our specific business needs."
Contact us for a complimentary ROI analysis. Let us show you what itim Invoice Matching can do.
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