What is Invoice Verification?

Invoice verification is the process of confirming that an invoice is accurate and valid before it is paid. This typically involves comparing the invoice to a purchase order (PO), goods receipt note (GRN), and contract to ensure that the items or services listed on the invoice were ordered, received, and priced correctly. Automated invoice verification systems can streamline this process by automatically matching invoices to supporting documents, identifying discrepancies, and routing invoices for approval.