What does it mean to match contract payment terms with invoice data?

It means verifying that each invoice’s due dates, amounts, and terms align exactly with the corresponding contract before payment is authorized, a process Sirion automates for accuracy and compliance.

How can I automate matching contract payment terms with invoices?

Use a CLM platform like Sirion that extracts contract data with AI and automatically compares it to invoices based on defined rules.

What are common causes of invoice discrepancies related to payment terms?

They often stem from incorrect payment dates, pricing errors, missing contract references, or duplicate invoices.

How do I handle invoices that do not reference the contract or purchase order?

Flag these invoices for manual review and confirm details with the vendor or contract owner before payment.

What KPIs should I track to measure compliance with contract payment terms?

Track auto-match rate, exception frequency, average processing time, and late payment percentage to gauge compliance performance.

CLM Blog - Best Articles on Contract Management

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The Memory Gap: 93% Don’t Trust Their Contract Data. Here’s The Fix

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