Easy, Breezy Digital Invoice Reconciliation with the MX Platform™
Navigating the intricacies of invoice reconciliation has always been challenging.
Anyone working on a media buying or finance team has encountered the pitfalls of manual invoice matching—which has long been considered a tedious, daunting process fraught with the potential for error.
Late nights spent in spreadsheets have long been a norm. Vendor invoice reconciliation headaches—a common challenge for buyers and media finance teams—are not only demoralizing but also delay closing out campaigns, getting paid, and making payments on time. Even worse, late invoices and other mistakes due to manual data entry can cost brands and agencies big.
Our modern technology enables the application of rules functionality, matching incoming invoices to their respective buys.
Thankfully, the MX Platform™ changes things. With its rules-based automation and advanced data ingestion capabilities, tasks that took hours and days can be knocked out in a matter of clicks, offering more time savings, accuracy, visibility and insight, and seamless collaboration across teams and workflows.
Beyond efficiency gains, low-touch invoice reconciliations allow media teams to transform and elevate their workflows. With the ability to reconcile invoices in minutes, media buyers can be relieved of burdensome tasks associated with reconciliation, and media finance teams can shift their focus from number crunching to strategic goals and data-driven decision-making.
For agency and in-house advertiser media teams, managing cash flow, tracking budgets, analyzing ROAS, and other intricacies of media finance and operations can be a "delicate dance." Cutting-edge systems that offer quick, precise, and thorough reconciliation capabilities can help keep rhythm.
A look at how it works
Seamless Centralized Management Centralization is the bedrock of Hudson MX's invoice management system. With all invoices across media channels accessible in one cohesive platform, you can say farewell to fragmentation and embrace complete control, ensuring payments are accurately logged and seamlessly processed.
Tailored Rules-Based Matching Engine Our customizable rules-based matching engine adapts to the distinct needs of agencies or brands, fostering an environment of flexibility and compliance. Whether you're managing variances or adhering to strict contractual obligations, our engine's innovative predictive capabilities close the gap between invoice and purchase order, effectively reducing errors and saving precious time.
Cutting-Edge Electronic Ingestion and Alerting What distinguishes Hudson MX is its proactive approach to invoice ingestion, using electronic data feeds that flawlessly input invoice details and automatically flag discrepancies. By doing so, the system ensures finance teams are freed from the constraints of data entry inaccuracies and can concentrate on addressing only the noticeable anomalies.
For example, suppose a spend amount differs from what is shown on an invoice. In that case, the platform will immediately and automatically flag it as discrepant, enabling a buyer to address it quickly. Teams can even set up notifications to alert users of discrepancies needing attention or action.
