Automate invoice reconciliation

Match payments received to invoices at speed and scale

The Corrivo Collections module eases the workload of collections by automating the arduous task of matching payments received to invoices issued. Taking a feed from your ERP system showing open transactions and an Open Banking File Corrivo uses machine learning to match payments against accounts and invoices. The artificial intelligence cumulatively improves its ability to detect customer behaviour and suggests or matches full and partial payments.


Let Corrivo do the hard work for you

Imagine an assistant that was so efficient it presented you with lists of successfully matched invoices and those for your manual approval at several times throughout the day. With invoices and payments into your bank account and online payments largely matched up for you the workload in your credit team would shrink dramatically, giving your team more time to focus on chasing payments or analysing patterns.  Gain back up to 70% of your workday by letting Corrivo manage reconciliation tasks.

How it Works

Automate your collections with Machine Learning  

Since 1996, Data Interconnect has been developing automation solutions for credit teams, linking ERP and order management systems to outbound invoice delivery and online eInvoicing portals. Allocations is our next step in extending the power of eInvoicing into the major pinch point in credit operations.

Matching Payments to Invoices

Corrivo uses the data within invoices, plus its own pattern matching algorithms to identify possible or full matches between invoices and payments. Taking the data from Open Banking Corrivo identifies full or likely matches to payments. Over time, with your approval to its pattern matching suggestions, Corrivo learns to allocate incoming payments to outstanding invoices, even across multiple ledgers.


Example 1:

Your business has one bank account for multiple strategic business units, perhaps trading under different sub-brands. Corrivo matches payments issued by those separate units, even if the same customer buys from more than one of your strategic business units or companies.


Example 2

Your customer has multiple trading names and businesses: they buy from you on separate ledgers even though they pay from one business account or card.  Corrivo identifies the account as existing in one or more ledgers and identified the best match to the open invoices, offering your team the chance to confirm the match before allocating and closing off the invoice.