Invoice matching is the comparing and linking of a supplier invoice with the underlying data on which the cost is based, such as a contract or purchase order (PO). Usually companies will perform a 2 or 3 way match. A two way match compares the invoice amount to the corresponding PO. If the amounts for those items match than the invoice can be paid without further action. In a 3 way match, the invoice is generally compared to the PO as well as to a receiving document or a contract. Again, if there is a match no further action is necessary. Matching invoices manually is time-consuming, especially on a line level where each invoice row needs to be matched to a PO and/or receiver or contract. Matching can also occur at the header level where the invoice total is matched vs. each line item. Implementing a Accounts Payable Automation (AP) solution along with a Vendor Portal can dramatically reduce the time and resources involved with invoice matching. Contact ICG today for a demo or more information on our AP Automation and vendor portal and supplier portal solutions.