Supporting intelligence for invoices shows you where the current invoice amount lies compared to historically approved invoices. This helps reduce the time you need to spend on internal discussions on invoice cost and on contesting an invoice. Additionally, performance details of the service provider and similar invoices for all locations are available to the user.
Analyzing Invoices Using the Invoice Intelligence Decision Engine
When you receive invoices from service providers you may approve, reject, or place them on hold for further conversation with your team and/or provider.
With Decision Engine analyzing your historical data and decisions - as well as your operational data points (trade, category, invoice amount, and provider compliance and performance) - you will have the supporting information you need to determine the appropriate action to take on the invoice.
There are three elements to Decision Engine for Invoices:
Proposal Price Quartiles displays the cost of the current invoice and where it falls within your history of approved invoices, ordered from lowest to highest.
Only the primary currency displays in Price Quartiles.
Service Provider Performance provides analytic metric data about the provider (grade, percent of work orders with negative feedback or recalled, and provider compliance).
Similar Invoices displays the 5 most recent invoices that are similar to the current invoice.