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Queries often arise from time to time pertaining to specific invoices, which usually causes a delay in the process. When a query is raised on an invoice, it is often sent back to the vendor for clarification purposes, which usually causes delays in invoice processing.
Query management refers to a series of processes that are undertaken when queries are captured, escalated, and actioned in case a dispute arises. When queries are rejected, they’re often routed back to the vendor for exception handling or for further queries.
Invoices that are under query cannot be paid out, which impacts the company’s payables ledger. Invoice queries can also be routed to an appropriate user for getting a response or for an approval. Without an effective query management solution in place, resolution times are likely to be higher, and queried invoices might be delayed significantly.
For instance, if amounts on the invoice don’t match those on the purchase order, the invoice might be referred back for a query. Establishing workflows for managing queried invoices is very important.
If invoices aren’t actioned on time, it could cause unneeded delays, affecting vendor relationships and the company’s reputation too.
Managing queries can be tough, especially if you don’t have an automated system in place. There’s also a risk that invoices under query might get lost. That’s why it’s important to have an automated system in place for query management.
SoftCo’s Vendor Management software is a fantastic solution that enables your preferred vendors to submit all invoices directly from the portal as they receive purchase orders. The query management module ensures that all queries are captured, actioned and recorded within the system in the event of a dispute.