Amazon Business has added 3-Way Match to its mobile app for B2B buyers.
The 3-Way Match feature, which was previously available only via desktop or handheld scanners, enables B2B buyers to scan the barcode of a newly arrived package, marking it as received and completing the purchase order, Amazon Business said in a Thursday (March 2) press release.
“Manual processes cannot be scaled efficiently, especially for large organizations,” Amazon Business Vice President of Technology Doug Gray said in the release. “Integrating our 3-Way Match capability on the Amazon Business mobile app simplifies the process so customers can reconcile their purchases in seconds.”
PYMNTS research has found that chief financial officers (CFOs) and other financial professionals are examining how automating their procurement processes could help break down some of their organizations’ cash flow barriers.
About one-third of businesses in the United Kingdom and the United States plan to upgrade their spend management and expense controls, and nearly half of firms plan to enable payments from digital invoices in the next three years, according to the “Corporate Spend Playbook,” a PYMNTS and Airbase collaboration.
Interest in automation for various parts of the supply chain or spend management process is growing because it reduces the amount of hands-on work required, the passing of information back and forth and the chance of things falling through the cracks, Airbase Director Content and Corporate Brand Darcie Lamond told PYMNTS in an article posted in February 2022.
“Spend management is all about automating all the workflows around spending — not just the accounting workflows, but also the pre-accounting and post-accounting, where you want reporting of it,” Lamond said at the time.
With 3-Way Match now available on the Amazon Business mobile app, B2B buyers have greater flexibility and can complete a 3-Way Match anywhere and in real time, according to the press release.
The feature helps businesses digitize and automate procurement by matching and verifying the purchase order, the invoice and the receipt before making the payment, the release said.
“With 3-Way Match, accounts payable and procurement teams can protect their organization from paying for incorrect invoices, items not yet received or fraudulent purchases — all while automating the process to save a significant amount of time,” Amazon Business said in the release. “This helps businesses of all sizes improve efficiency and reporting capabilities while also reducing time spent on manual data entry and avoiding payment for damaged or incorrect packages.”
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