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What is two-way matching and how does it work?

Nanonets

How manual 2-way matching works Manual 2-way matching is typically favored only by businesses with very low transaction volumes or those with specific requirements necessitating human oversight. Cost Savings: By avoiding overpayments and resolving discrepancies efficiently, companies can save significant costs in the long run.

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Best Accounts Payable Software of 2023

Nanonets

Automated accounts payable software can efficiently manage large volumes of financial transactions between a company and its suppliers, while also automating ancillary activities such as approvals and payments. Accurate data capture A company may invoice invoices in various formats - paper, pdf, xml , etc.

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What is PO Matching? And how to automate it?

Nanonets

MS-Excel files), structured XML documents from Electronic Data Interchange (EDI), PDFs and image files, and sometimes as hard copy documents. Errors at the start of the invoice processing workflow can snowball into serious outcomes such as over-payment, incorrect payments, invoice duplication, etc.

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BPO automation software: A quick guide

Nanonets

Source: TechTarget But with the increasing complexity and volume of business processes, the need for automation in BPO has become more apparent. Seamless integration will enable smooth data flow and avoid duplication of effort. Take, for instance, omnichannel call centers or document processing.