Introducing: Automatic 3-Way Matching

New FeatureMarch 27, 20242 min read
Caroline Lu, Product Marketing Manager

Today we’re announcing the launch of Automatic 3-Way Matching for Purchase Orders, a new feature that dynamically validates POs against goods received notes (GRNs), and bills, down to the line item. It’s time for CPG brands to ditch the spreadsheets for good and eliminate human errors. With Automatic 3-Way Matching, we’re taking yet another step in transforming procurement for inventory businesses with the first native platform for ordering, receiving, matching, and paying for goods.

Running an e-commerce or inventory business requires constant juggling of multiple priorities, leaving little time for crucial tasks like verifying that the goods you pay for match the quantity ordered and received. This leaves businesses like yours vulnerable to potential overpayments, duplicate payments, and invoice fraud. In the past year alone, we’ve found a whopping 47% of purchase orders had inconsistencies versus corresponding bills, totaling more than $12 million in discrepancies*.

Manual 3-way matching through spreadsheets or toggling between different screens and documents can be tedious and time-consuming, taking away focus from broader strategic initiatives like expansion plans. Check out our Purchase Order suite’s new features:

To err is human. To auto-itemize is divine.

Powered by AI, our auto-itemization tool extracts line item details from your POs, GRNs, and bills (such as quantity, SKU, and price) with the click of a button. No more manual data entry - or human error.

Peace of mind, line by line

Our 3-Way Matching automatically flags discrepancies between your POs, bills, and goods received notes (GRNs) down to the line item, ensuring every unit and every cent is accounted for.

.xls, .pdf, .ofx…SOS

It’s the end of scouring your downloads folder and searching through old emails to find your AP docs. Move them to Settle. We not only make it easy to manage all your files in one place, but also automatically link your POs, GRNs, and bills with 99% accuracy*.

“

It changed my process entirely. I'm able to auto itemize both the PO and the invoice and do the comparison right there on one screen. I don't look at the spreadsheet at all anymore - it all exists within Settle now.

Cathryn Stenning, Branch

How does Automatic 3-Way Matching work?

For a step-by-step look, take a tour of the product yourself!

See how you can get started with free unlimited purchase orders and three free 3-way matches.

*The statistics presented are based on available data obtained from Settle's internal quality assurance procedures and testing protocols. They are for informational purposes only. Settle makes no representation or warranties, expressed or implied, with respect to this information. For more information on our data sources and methodology please contact our customer support team.
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