OpenText Vendor Invoice Management for SAP
Accelerates the complete procure-to-pay and order-to-cash process.
what?
Accelerates invoice and order processing through rapid data capture and automated routing
Ensures compliance through defined business processes and a documented audit trail
Improves productivity through intelligent automation
Increases ROI by reducing cycle times and eliminating late fees and deliveries
A recent study by analyst Harvey Spencer found that up to 80 percent of supporting documentation for invoice processing remains manual, resulting in unnecessary, error-prone data entry. Eliminate the words “time-consuming” and “labor-intensive” from your organization’s vocabulary. Repetitive tasks, complex compliance checks, and tedious tracking of invoices and other documents can now be automated, allowing finance specialists to focus on value-added tasks instead.
OpenText Vendor Invoice Management for SAP Solutions streamlines procureto-pay and order-to-cash operations for SAP customers. It optimizes and simplifies the process of receiving, managing, monitoring, and routing invoices, quotations, order confirmations, delivery notes, sales orders, remittance advice, and related documentation on all levels. Ensure consistently accurate, timely, and compliant financial payments to vendors every time.
Increases ROI by reducing invoice cycle times and eliminating late fees
Decreases accounts payable invoice cycle times and eliminates late fees to achieve significant savings, better supplier relationships and greater discounts. Ensuring timely invoice processing enables procurement departments to negotiate additional early payment discounts.
Significant savings are also achieved by:
- Reducing cost per transaction (CPT).
- Improving cash management through accounts payable liability reporting capabilities.
- Decreasing data entry labor costs through automatic data capture using electronic invoice formats or Optical Character Recognition (OCR).
Improves productivity through intelligent automation
Eliminates research, manual keying, problem querying, and manual routing, and detects duplicate invoices as early in the process as possible. Purchasers and suppliers can focus on value-add tasks instead. It consistently displays relevant details and proposes pre-configured actions to solve an invoice problem, such as directly posting a goods receipt. The ability to manage the invoice process from metadata ingestion enables Vendor Invoice Management for SAP Solutions to move from a simple robotics solution to an intelligent robotics solution. Often hours, if not days, are required to accumulate the necessary information required during dispute management. Having all the current and relevant supporting documentation available from the process screens reduces these inquires to just minutes.
Expands customer satisfaction by automating sales order processing
Streamlines sales order processing and ensures that orders are accurately confirmed and processed as early as possible. This also allows a more efficient resource, production, and shipment planning, further reducing risks and costs. Days sales outstanding (DSO) is positively impacted by the end-to-end digital process that also processes remittance advice to accelerate the reconciliation of incoming payments.
Accelerates invoice and order processing through rapid data capture and automated routing
Reduces the time required to process documents through rapid data capture from any source (business networks, EDI, XML, email, or scan), offering intelligent data enrichment and automated routing based on business rules and roles. The integrated self-service user interface for suppliers and employees eliminates time-consuming responses to invoice and payment status queries.
Integration with OpenText Intelligent Capture for SAP Solutions and OpenText Core Capture for SAP Solutions (SaaS) adds intelligent data capture from images. This significantly reduces the time required for processing, and streamlining processes by handling complex business rules and documents with minimum human interaction and maximum control.
Ensures compliance through defined business processes and a documented audit trail
All documents pass a defined and documented set of business rules. The actions a user can take to solve the problem are tied to specific user roles, guaranteeing a strict segregation of duties. Auditors have full access to this detailed processing history at any time because all actions are documented in the audit trail.
These features are prerequisites to fraud prevention and meet internal controls on financial reporting regulations. This level of compliance reduces risk while maintaining efficiency. The same data is used for detailed reporting, allowing quick analysis of processing bottlenecks, such as excessive idle times, number of touches, or time required to process an invoice or sales order problem. Trend analytics, for example, can reveal a supplier that issues incomplete or inaccurate invoices. The integrated trend visualization proves the effectiveness of process changes and fosters continuous process optimization. Optimized operations free up employees to proactively work with sales, customers, procurement, vendors, and operations to ensure problems are eliminated before they occur while exploring new ways to reduce processing costs and cycle time.
Vendor Invoice Management for SAP
Vendor Invoice Management for SAP Solutions anticipates invoice problems before they occur. A significant share of these issues are caused on the receiving side. The solution eliminates the overhead for these tasks and keeps purchase orders OpenText Vendor Invoice Management for SAP Solutions and delivery status up-to-date, preventing problems during invoice posting. It also manages invoice processing in multiple production instances from a single, central point of control. Vendor Invoice Management for SAP Solutions complements the new and simplified SAP S/4HANA with world-class invoice and document automation. This is the first time that users can run complex, transactional processes exclusively in the modern SAP Fiori user experience.
It is certified by the SAP Integration and Certification Center (SAP ICC), which involves a rigorous process of validation that SAP uses to analyze and test products, including its own, in several categories, such as accessibility, functionality, documentation, performance, security, and usability.
Product Features | Capabilities |
Enters documents from any source | From any location, via all input channels and in any format directly into the ERP system. |
Automates invoice data extraction | Integrates with Intelligent Capture for SAP Solutions to cull header and line item details quickly, reliably and automatically, based on a knowledge base of thousands of invoice samples in combination with machine learning. |
Optimizes the review and approval process | Intelligently enriches missing information, offers controlled and automated exception detection and handling, parallel approvals, escalations, invoice posting and reporting, resulting in a reduced cost per transaction. |
Leverages designated workflows | Provides predefined workflows with robust and extensible baseline functionality, shortening implementation time and reducing deployment costs |
Automates invoice routing and sorting | Designated workflow steps sort and route exceptions based on user roles, authorization rules, priorities and predefined timelines to ensure actions are taken by individuals with both the applicable knowledge and security access |
Generates reports | Uses built-in reports and data models based on company code, business unit, customer, supplier, exception type, liability and more to turn insights into action. |
Drills down into details | Accesses applications, content and history using intuitive, graphical dashboards with buttons that drill down into the original image, information and document flow. |
VILT is a company specialized in information management, process optimization, and customer experience improvement (internal/external). We help companies become more operationally efficient through the adoption of digital solutions, full data integration, and advanced analytics.
With a +20-year partnership with OpenText, VILT's deep experience and expertise are recognized globally, with a client portfolio of over 400 organizations worldwide.
OpenText Partner of the Year - 2022 Europe
20+ YEARS
