Invoice matching software (Didos)

Invoice matching

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, you can automate much of this work and recover significant amounts in supplier overcharges. It can automatically:

  • identify matching documents
  • identify price and quantity queries
  • raise debit notes or credit claims
  • accept undercharges
  • post cleared invoices to the purchase ledger
  • raise debit notes or credit claims for returns

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

ITIM INVOICE MATCHING – KEY CAPABILITIES

Maximize Business Flexibility

Advanced invoice matching

Bring 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.

Maximize Business Flexibility

Automated query resolution

When 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.

Maximize Business Flexibility

Supplier portal

Share 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.

Maximize Business Flexibility

E-invoicing

Route 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.

Maximize Business Flexibility

Rapid ROI

Significantly 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.

Maximize Business Flexibility

Integration

Integrate 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



CUSTOMERS USING ITIM INVOICE MATCHING

Take the next step to easier, more streamlined and cost-effective invoice processing

Contact us for a complimentary ROI analysis. Let us show you what itim Invoice Matching can do.