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How does automatic business partner recognition and creation work with Finmatics?

Finmatics has an algorithm for assigning and automatically creating business partner master data. The automation works as follows:

  • Finmatics reads all UIDs and IBANs of the invoice.
  • Finmatics excludes the UID of the client
  • Finmatics identifies the business partner based on UID or IBAN
  • 1. if a unique UID / IBAN is found in the business partners of the client, then the business partner is assigned.
  • 2. if multiple UIDs / IBANs are found (e.g. branches case): Match based on address, email, etc. Best Match is assigned.
  • Master Data Match: If UID of invoice is not found in business partners, then Finmatics will perform match based on master data. (Business partner name, addresses, mails, etc.).
  • If the master data match has not found a business partner either, Finmatics can create a new business partner and then transfer it to the ERP system (automatic master data creation). Beforehand, the validity of the UID is checked.

Configuration options: The automatic master data creation can be optionally switched on or off.