Boost your company's financial health with 3-way matching!
Protect your company against manual efforts of detecting overpayments, under deliveries and fraud with accurate two & three way matching!
Trusted by 100+ Finance Teams
Peakflo’s 2-way and 3-way matching is a perfect fit for:
- Large organizations dealing with fraudulent or incorrect payments.
- Organizations processing large volumes of vendor invoices, POs and receipt notes per month.
- Organizations using different tools and platforms to manage their month-end closing.
- Organizations dealing with lengthy and inefficient auditing.
What you can achieve with Peakflo’s automated 2 way & 3 way matching:
100
man-hours saved per month on 3-way matching for 1000 invoices
44
44 man-hours saved per month on 2-way matching
85%
reduction in fraudulent payments
Automate bill to purchase order matching!
With AI-powered invoice capture, Peakflo will scan all your bill details and based on the PO number on the bill, it will automatically match the received purchase order to the bill and flag any mismatches.
Automate custom field mapping for bills and POs!
Say goodbye to manual effort of updating the same custom fields for both bills and POs and their line items, Peakflo will automatically map the custom fields to the bill even on line item level based on the PO information.
Automatically Flag terms of payment mismatches!
Instead of manually checking for mismatches between the PO and bill payment terms, Peakflo automatically identifies and flags any discrepancies, pinpointing the exact areas of inconsistency.
Customize purchase order matching for advance payments!
For businesses that require advance payments, by choosing “advance payments” as the payment type, the validations will be done based on the PO line item quantities.
Customize your PO to bill matching for payments on delivery!
For businesses that receive payments after the delivery of goods or services, by choosing “Pay on delivery” as the payment type, the validations will be done based on what has been received and what has been billed.
Follow up on mismatches with your procurement, inventory and finance team in one place!
Easily follow up on the mismatches by tagging the relevant stakeholders and leaving comments. The stakeholders will get notified immediately and can respond using Peakflo. All your internal communications and activities will be stored in Peakflo’s timeline.
Easily track all your three way matching at a glance!
Your finance and procurement team can easily track all the details regarding the three way matching in one place. They can check the balance, payments and partial deliveries at a glance.
Make exception handling a breeze!
Easily communicate through SMS, email or WhatsApp with your vendors to resolve all discrepancies and ensure that discrepancies are addressed and corrected and prevent overpayment, underpayment, or fraud.
Keep vendors & suppliers in the loop with Peakflo vendor portal!
Make it easy for your vendors and suppliers to check purchase orders, issue invoices against POs or GNs, track payment status, and communicate with you through Peakflo’s secure and self-serve vendor portal software!
Success Stories
Gazzda
Before Peakflo, Gazzda team had to manually send follow-up emails for 300 invoices per month. Gazzda team also had a hard time doing manual data entry for vendor invoices received by paper and track their status. With Peakflo, Gazzda can automate payment reminders. The scattered vendor invoice management became centralized and the vendor invoice processing has gotten much faster and easier.
Haisia
Before Peakflo, every department in Hai Sia had to submit reimbursements and bills for approval via email or hardcopy documents. Approvals is also very hard to track. With Peakflo WhatsApp OCR, Hai Sia team need to only take a picture of the bill and send it to WhatsApp, and the bill entry gets automated. On top of it, Hai Sia team can track approvals, payments and vendor communication seamlessly in one place.
Rey
Before Peakflo, manual bill approvals could take days and budget management could take a full month for the finance and other divisions in Rey. With Peakflo, Rey can now automate complex approval with the approval workflow. All bills and payments are assigned to a budget automatically and recorded in a structured manner, so the team wouldn’t spend so many hours doing budget recap.
Bharathi Homes
Peakflo’s customizable approval automation has been highly beneficial for our team, We’ve been able to save 200 man-hours per month. We have also automated manual tasks such as PO creation and 2-way matching and increased efficiency by 74%.
My Robin
Before Peakflo, the approvals were done using emails, and MyRobin’s finance team attempted to use Excel to track the approvals. Lack of approval workflow automation resulted in too much time being spent on manually chasing approvers and Excel did not provide any visibility over the audit trail for the team.
Vida
Peakflo approval workflows have been a great help for streamlining our purchase order and bill approvals. We’ve been able to save 20,254 man hours with Peakflo. We also no longer need to create reports manually and have saved 16 man hours by using Peakflo's out-of-the-box AP reports.
Vida
Before Peakflo, vendors manually submitted invoices in hard copy to NRI’s client. The Procurement team had to check if the received supporting documents or invoices are correct. Then, The Accounting (AP) team would recheck the invoice and input the details already processed by the Procurement team. For new vendors, the Procurement team would input the invoice using a template, and the approvers would manually validate and verify the purchase order details. This entire process was time-consuming for the procurement and AP team.
Construction Machinery
Before Peakflo, vendors manually submitted invoices in hard copy to NRI’s client. The Procurement team had to check if the received supporting documents or invoices are correct. Then, The Accounting (AP) team would recheck the invoice and input the details already processed by the Procurement team. For new vendors, the Procurement team would input the invoice using a template, and the approvers would manually validate and verify the purchase order details. This entire process was time-consuming for the procurement and AP team.
Connect your Accounting Software/ERP to Peakflo
Turbocharge your accounting software with Peakflo or import your data seamlessly.
Integrate and leverage the power of automation without affecting the way you work.
Get Started!Import your CSV/XLSX
Connect through Peakflo API/ SFTP
Automate your 2 way and 3 way matching now!
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