What Is a Duplicate Invoice? Simple Ways to Spot and Stop It
Duplicate invoices cost businesses billions of dollars annually. For small and mid-sized companies, SAP Concur data shows a typical duplication rate of 1.29%, which translates to about six duplicate invoices per month, with an average value of $2,034. If those duplicates are paid, this results in potential losses of around $12,000 each month. This risk is especially significant for companies handling thousands of invoices monthly. Here's the fix: purchase order software. It checks invoices against orders, flags duplicates, and stops bad payments before they happen. In this article, we'll break down what duplicate invoices are, why they slip through, and how purchase order software cuts the losses. What Are Duplicate Invoices? A duplicate invoice is any bill that is submitted ...