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Vendor Invoice Management

Now you can find efficiencies in the back office and improve the bottom line by optimizing financial management. The SAP® Invoice Management application by OpenText helps you streamline accounts payable (AP) processes through automation, workflows, and support for best practices. The application helps you eliminate manual AP processes to free up staff for more productive activities.

Business Benefits

  • Cost savings through reduced headcount, elimination of duplicate and late payments, and offshoring of operations
  • Improved vendor relations through on-time payments and the ability to provide accurate, current information
  • Enhanced compliance and accountability with key regulations, such as the Sarbanes-Oxley Act, due to tighter internal controls and accurate reporting
  • Continued knowledge-gathering through software that captures expertsÕ experience and makes it available even when the experts are offline

Key Functions

  • Centralized visibility - Get a consolidated view of all information relevant to a transaction on one screen
  • Automated processing - Manage accounts payable processes automatically using configurable business rules from invoice validation through posting
  • Exceptions handling - Automatically route exceptions to the person in the proper role while the process is logged and a comprehensive record is maintained in the software
  • End-to-end process analytics - Monitor the invoice process from start to finish with a clear view of bottlenecks, cycle time, first-pass yield, and liability
  • Integration with the existing environment - Implement the application quickly with the assurance of linkage with all relevant data and functionality in your existing SAP software

Business Challenges

  • Lower the cost of processing per invoice
  • Automate data entry using optical character recognition
  • Reduce errors resulting from duplicates and other problem invoices
  • Reduce manual processing to optimize staff activity
  • Improve vendor relations and payment terms
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