For term: Three-Way Matching, context: PO, receipt, invoice verification

What is Three-Way Matching?

Three-Way Matching is a crucial accounts payable process that verifies the agreement between purchase orders, receipts, and invoices.

10+
Hours saved per week
99.2%
Extraction accuracy
5 min
Setup time
80%
Cost reduction
1M+
Invoices processed
Seconds
Per invoice processing

The Challenge of Accuracy in Invoice Processing

One of the major challenges businesses face in invoice processing is ensuring accuracy across various documents during the accounts payable process. Inaccuracies in any part of the workflow can lead to financial discrepancies, disputes, and potential losses. Without a systematic approach to verifying purchase orders (POs), receipts, and invoices, teams may spend countless hours cross-checking information, leading to frustration and inefficiency. This often results in errors that could affect the company’s bottom line.

InvoiceRunner addresses these challenges with its innovative AI-powered platform designed to automate the invoice processing workflow. By implementing the Three-Way Matching method, our solution effectively matches purchase orders, receipts, and invoices across any format, removing the need for manual verification and significantly reducing the potential for human error. This means that finance teams can focus their efforts on more strategic tasks rather than getting bogged down in tedious data accuracy checks.

By transforming the way businesses manage their invoice verification process, InvoiceRunner empowers organizations to gain newfound levels of efficiency and accuracy. Users experience not only reduced workload and stress but also enhanced control and oversight of accounts payable operations. With automation, the entire verification process becomes streamlined, ensuring timely payments and improved vendor relationships.

The Invoice Processing Struggle

Common challenges faced every day

  • Time-consuming manual checks to ensure document accuracy.
  • Higher risk of errors from manual data entry.
  • Difficulty in reconciling discrepancies between documents.
  • Frustration due to delayed payments and vendor disputes.
  • Lack of visibility into the invoice processing cycle.
  • Increased operational costs owing to inefficiencies.

How InvoiceRunner Transforms Your Workflow

Purpose-built invoice automation

  • Automates the Three-Way Matching process to ensure accuracy.
  • Eliminates the need for manual data entry and checks.
  • Provides real-time visibility into the invoice status.
  • Integrates with leading accounting software for seamless workflows.
  • Reduces processing errors significantly with AI accuracy.
  • Facilitates faster invoice approvals to ensure timely vendor payments.

Why Choose InvoiceRunner

Tangible benefits that impact your bottom line

Save 10+ Hours Weekly

Automating invoice processing frees up valuable time, allowing your team to focus on strategic activities.

99.2% Extraction Accuracy

Our AI provides near-perfect accuracy, ensuring you can trust the data extracted from invoices.

Prevent Duplicate Payments

Detects duplicates automatically, helping your business avoid costly overpayments.

Seamless Accounting Sync

Easily integrates with tools like Xero, QuickBooks, and more for smooth data management.

5-Minute Setup

Get up and running quickly with a simple onboarding process.

Scale Without Adding Staff

Manage an increased volume of invoices seamlessly without the need for additional hires.

Powerful Features

Everything you need to automate invoice processing

Email Inbox Monitoring

Monitor Gmail or Outlook 24/7 for invoice emails.

Never miss an invoice

AI Data Extraction

Extract vendor, dates, amounts from any format.

No templates required

Math Validation

Verify calculations before syncing.

Catch errors automatically

Accounting Software Sync

Sync to Xero, QuickBooks, etc.

One-click sync

Duplicate Detection

Check for duplicate invoices.

Prevent costly errors

Vendor Matching

Match to existing vendors.

Keep vendor data clean

How Businesses Use InvoiceRunner

Real scenarios from users like you

A Small Business Optimizing Cash Flow

A local retail business uses InvoiceRunner to streamline its invoice processing, saving time and ensuring timely payments to vendors.

Example: This business saw a 50% reduction in invoice processing time.

An Accounting Firm Increasing Client Satisfaction

An accounting firm adopted InvoiceRunner for its clients, significantly reducing the time spent on each client's accounts payable.

Example: This firm improved client satisfaction scores by 30%.

A Tech Startup Managing Vendor Relations

A tech startup implemented InvoiceRunner to automate vendor invoice verification, fostering better vendor relationships.

Example: This led to faster approvals and zero payment disputes.

A Construction Company Ensuring Accuracy

A construction company struggled with discrepancies between POs and invoices. InvoiceRunner helped them reconcile these easily.

Example: This company reported zero financial discrepancies in six months.

Get Started in 5 Minutes

InvoiceRunner is designed to work with your existing tools

1

Connect Your Email

Link your Gmail or Outlook account securely.

2

Connect Your Accounting Software

Connect to your accounting software with one click.

3

Invoices Are Processed Automatically

InvoiceRunner extracts data automatically.

4

Review and Approve

Draft bills appear for your review.

Works With Your Existing Tools

Seamless integration with popular platforms

Gmail
Outlook
Xero
QuickBooks Online
Zoho Books
FreshBooks
Sage Business Cloud

What Our Users Say

InvoiceRunner has changed how we handle invoices. No more discrepancies and our payment processes have speeded up greatly!
JD
John D.
Finance Manager, Tech Solutions Inc.
The automation features are a lifesaver! We've increased our accuracy and our team can now focus on higher-value tasks.
SP
Sarah P.
Accounting Director, Lambda LLC

Frequently Asked Questions

How long does it take to set up?

Most users are up and running in under 5 minutes.

What invoice formats are supported?

PDF, images (JPG, PNG), and scanned documents.

Is my data secure?

We use bank-grade encryption and never sell your data.

What if the AI makes a mistake?

All invoices are created as drafts for your review.

Which accounting software do you support?

Xero, QuickBooks, Zoho Books, FreshBooks, and Sage.

Can I try before I buy?

Yes! 10 free extractions, no credit card required.

Ready to Automate Your Invoices?

Join businesses saving hours every week with InvoiceRunner.

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Stop Wasting Time on Invoice Data Entry

InvoiceRunner automates the tedious parts of accounts payable.

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