Glossary
LEXICON / TERMA procurement control that compares the purchase order, the goods receipt, and the vendor invoice before a bill is approved for payment — catching discrepancies before money moves.
Three-way matching is a procurement control that compares three documents — the purchase order (what was ordered), the goods receipt (what actually arrived), and the vendor invoice (what's being billed) — and only allows payment processing once they agree within tolerance.
Without matching, an organisation pays whatever a vendor invoices, even if it doesn't reflect what was actually ordered or received — a real source of overpayment and undetected billing errors.
The three documents are compared line by line; a variance outside an allowed tolerance is flagged as an exception requiring a documented reason before it can be overridden, rather than silently approved.
A purchase order for 100 units, a receipt confirming 100 units delivered, and a vendor invoice billing for 100 units at the agreed price match cleanly and clear for payment; an invoice billing for 105 units would be held as a variance exception.
A vendor bill in Vercentlabs can only be imported once the matching engine confirms a 'matched' status across the order, receipt, and invoice — 2, 3, or 4-way matching, with a mandatory documented reason required for any tolerance override, not a silent approval.
Open Procure to Pay runbook →Lexicon cross-reference
Reference index
See it on your workflow
30-minute working session