Large scale Invoice Matching is a complex knot of internal and external procedures. It is possible to untie the tangle for good, and save time, effort and money.
Take a look at Didos. WHSmith did. For them, once difficult, labour-intensive tasks are now simply and effectively dealt with.
As the number of invoices you handle grows, there comes a point where a manual matching process becomes untenable. Do you divert staff away from identifying price or quantity discrepancies and run the risk of losing money in supplier overcharges? Or, do you throw headcount at the problem just to keep pace? Neither is really acceptable to your business, so you need a long-term, reliable and auditable solution.
Didos automatically brings together related invoices, credit notes, receipts and returns and verifies that invoice values, irrespective of currency, are within predefined supplier tolerances of matching goods received values. By matching at total invoice and, where possible, at product level, and by automatically raising claims for credit or debit notes for overcharges, Didos can typically approve up to 95% of invoices automatically.
Leaving as few as 5% of your invoices requiring clerical intervention, Didos then provides the tools and workflow to query and resolve these outstanding issues, therefore taking the entire invoice authorisation cycle fully in hand.
With Didos, supplier overcharges can be eliminated, costly clerical errors reduced and prompt payment discounts exploited. But the financial benefits don't stop there.
Didos ensures the tedium and overload are taken care of and ensures full control of payment values is achieved – attention can then be turned to where most value can be added. Companies like One Stop know the value of this change. For them, Didos is the foundation of their ability to confidently identify and address theft in store. In one year alone they reduced theft to 0.1% of sales.
By automatically matching such enormous invoice volumes at product level and reducing clerical intervention to minimum levels, Didos will support your business growth. For Musgrave, Didos allowed them to easily adapt and expand their accounting functions to accommodate their take-on of the Budgens and Londis chains. The same is true for Travis Perkins take-on of Wickes.
Ask itim what Didos can do for you. So confident are we that a rapid return on investment will be achieved, we will calculate this for you based on your staff, invoice and overcharge numbers and Goods Receiving and Cost Price errors. Justifying the step to an easier, more streamlined and cost effective operation is closer than you may think.