What are Contracts in Rillion?
Contracts in Rillion Prime automate invoice handling by linking recurring or budget-based invoices to predefined agreements. This reduces manual work, speeds up approvals, and ensures accuracy. The result is better control, fewer errors, and timely alerts when budgets or contract terms need attention.
Contract matching within Rillion Prime is recommended when you want to streamline the invoice processing by automatically matching invoices to predefined contract terms.
When should I use contract matching?
You should use contract matching in Rillion Prime when you have vendors with ongoing agreements, such as fixed pricing, recurring services, or volume-based terms, and want to fully automate invoice handling for them.
To get started, focus on vendors with predictable billing patterns or long-term agreements such as rental or energy bills. You can also use the Contract Candidates report in Rillion Analytics to identify vendors that are good candidates for contract matching. Once set up, these invoices can flow through the system automatically, helping you scale automation and improve control.
What are the benefits of using contract matching?
Contract matching in Rillion Prime automates invoice verification by comparing invoice details to contract terms. It improves accuracy, ensures compliance and saves time. Invoices that are contract matched become touchless invoices, meaning they can be automatically validated, approved, and posted without any manual steps. This has a significant impact on your automation rate and reduces the workload for your team.
Contract matching ensures that invoice amounts and terms align with what was agreed in the contract. It eliminates the need to manually check or approve each invoice, reduces the risk of overpayments or errors, and speeds up the entire process.
Can I use both contract matching and reference matching for the same vendor?
If you receive invoices from a vendor where some should be matched against contracts and others against references, the Rillion Prime system is designed to handle this efficiently and automatically. It first checks whether the invoice matches any active contracts for that vendor. If no match is found, and reference matching is properly configured, the system will then attempt to match the invoice based on reference data instead.
This setup allows you to streamline invoice processing without needing to manually sort or route invoices based on type. You can configure Rillion Prime to prioritize contract matching and fall back on reference matching when needed. To make this work smoothly, it’s important to ensure both contract and reference matching criteria are clearly defined in your system settings.
By using this dual approach, you increase the chances of invoices being automatically matched and approved, which improves accuracy and reduces manual work.