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Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
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Greater levels of accuracy Automating payment processing enhances accuracy by validating invoice data against ERP or accounting systems, eliminating manual processes and paper handoffs that cause errors, and flagging duplicate invoices. Some technology providers guarantee accuracy.
Difficulty in errorresolution: Without a properly documented and structured reconciliation process in place, it can be very difficult to resolve errors effectively. This would mean greater resource requirements and an increase in the probability of human manual errors.
The aim is to ensure accuracy and prevent errors or fraud before payment processing. Through the process, they deal with the purchasing department to verify purchase orders, the receiving department to confirm receipts of goods, and the finance department to approve payments. They may be contacted for clarifications, too.
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