December 27, 2022
Veering from the 3-way matching process by not using a purchase order (PO) puts health systems at risk of erroneous transactions and a simple way of detecting potential fraud. According to our data, health systems do NOT use a PO on an average of 69% of transactions.* What is 3-way Matching? The three-way matching process is part of the procure to pay process (P2P) performed by the Accounts Payable (AP) department before paying invoices. AP cross-references the data in a PO, receipt records/logs, and invoice. Then, if all data on all three documents match up, the invoice is paid. If […]
