Accounts payable and payments automation solution MineralTree has added automated PO and bill matching for cloud-based accounting and monetary administration platform Sage Intacct, a press release says.
The brand new know-how will allow MineralTree prospects utilizing Sage to make the most of computerized matching of invoices towards buy orders or receipts, then placing them into customers’ inner workflows to be authorised and for fee to be despatched out.
The discharge says this can enable MineralTree prospects to avoid wasting “substantial” time for finance employees, and reduce prices on fee processing whereas taking out overcharges and double funds.
The partnership particularly seeks to help two PO matching workflows — customary matching, whereby MineralTree mechanically syncs POs from Intacct, and when invoices are obtained, the matching algorithm hyperlinks line objects in invoices to these in purchases.
And there is receipt-based matching, which works for purchasers who use the Intacct PO Receivers workflow to match line objects with obtained amount to forestall fee taking place earlier than the order has been obtained.
The method of reconciling and matching invoices, when finished manually, is usually a time-consuming course of for companies, the discharge says. It will possibly eat up accounts payable employees time and opens doorways for quite a few costly errors similar to overcharges, double funds and late charges.
“As firms develop and look to higher handle their spend, using buy orders turns into customary working process, particularly in industries similar to manufacturing, retail, and healthcare,” stated Elle Kowal, chief product officer at MineralTree. “With the addition of automated PO matching for Intacct, we are able to higher serve the wants of bigger middle-market companies and proceed to develop the footprint and worth of their AP automation efforts.”
Earlier this 12 months, Sage teamed with Trintech, the file to report software program, to debut new monetary shut processes with higher pace, working to seize information immediately from the reconciliation and shut phases of a deal.
Trintech made this system for its Adra Suite and it turned out there through the Sage Intacct Market.