Invoice reconciliation

Automate your invoice reconciliation process to eliminate errors, mitigate risks and reduce the burden on your Accounts Payable team with SMART by GEP. Our state-of-the-art procurement software enables end-to-end automation and streamlines the complete procurement cycle – from sourcing to payments.

With SMART by GEP, all your data, right from contract terms and negotiated rates to purchase orders and invoices, is stored in one central database. The unified procurement platform leverages its artificial intelligence capabilities to automatically call data, conduct multi-way matching and identify incongruities between invoices and purchase orders to deliver next-gen invoice reconciliation capabilities.

Cloud-native SMART by GEP also allows users to define tolerances and configure the software to auto-process payment of invoices within the tolerance limits. With SMART by GEP, only true invoice exceptions require manual intervention.

SMART by GEP lets your buyers resolve most of the issues that might cause an invoice exception – it gives buyers the flexibility to approve, amend or reject the invoice in question or reach out to the supplier for clarifications. You can also configure different reconciliation hierarchies to auto-escalate invoice exceptions that remain unattended for predefined time periods – so there are no pending payments and unhappy suppliers.

Being a platform-agnostic software, SMART by GEP seamlessly integrates with your ERP system and the single database enhances audit and reporting capabilities.

To learn more about SMART by GEP’s invoice reconciliation, CONTACT US TODAY.

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