Invoice fraud is costs businesses £$M’s annually.
In 2020, a US fraudster swindled $Ms by falsifying invoices to various companies for services never provided. They paid up.
Putting a vetting system in place for invoices before they are paid prevents fraud and eliminates tedious, manual error-prone admin tasks.
Enter Three Way Matching from IMS.
What is Three Way Matching? It is a procedure that involves matching a buyers purchase order, to suppliers invoice and inventory documents. It reconciles discrepancies – suppliers can confirm products and quantities before shipping, and eliminates errors related to pricing.
Three Way Matching also enables an audit trail before issuing payment to the supplier, enabling more robust security practices.
Not sure about current methods or need further information? IMS can provide a more in-depth overview of our Three Way Matching services and discuss current challenges.
Contact Nigel Ainsworth or Simon Sherwood on: 0845 130 8499 or email: firstname.lastname@example.org