The official business definition of 3 Way Matching is a process of comparing purchase orders, invoices, and receipts to ensure that the right goods or services have been received, the right quantity has been received, and the right price has been paid. This process is also known as a “three-way match” or “three-way reconciliation”. The 3 Way Matching process helps to ensure that the company is not overpaying for goods or services, that the company is not receiving the wrong items, and that the company is not receiving more items than they ordered. This process is an important part of any business’s accounts payable process and helps to ensure accuracy and reduce the risk of fraud. The 3 Way Matching process is often automated to reduce the time and effort required to complete the process. This process is also used to help identify discrepancies between purchase orders, invoices, and receipts, which can help to ensure that any issues are quickly identified and resolved.