SOLUTIONS

VENDOR INVOICE MANAGEMENT

Reduce cost-per invoice by up to 50%

To fulfill its expanding strategic role, the Finance Area must always seek to increase efficiency in its operations. The Accounts Payable (AP) function is an area that in the past has consumed a lot of resources within the department. With Techedge’s Vendor Invoice Management solution, powered by SAP’s ECM suite, the finance area can increase efficiency, reduce costs, make better use of cash discounts, and focus more resources on higher value strategic responsibilities. 

Business User 

Finance department, Accounts Payable manager

Features

  • Allows the AP manager to apply consistent payment rules across the organization and in different markets, ensuring a consistent, systematic approach to collection and disputes.

  • Provides the ability for vendors to connect directly and submit their invoices electronically to the AP department for expedited processing.

  • Provides for a document-scanning tool, which can collect data from paper scans, faxes and emails, entering the invoice data into the invoice recognition system.

  • Links directly to payment systems all of which can be archived with SAP Archiving by OpenText.

Benefits

  • Improve AP processes – Invoices are paid on time, processes are streamlined and automated, and responsibility falls to the appropriate individuals.

  • Reduce Costs – Cost per invoice is reduced, invoice volume can grow without adding more people, and the solution supports a consolidated shared AP service-processing center. Early pay discounts can be easily captured, and duplicate payments eliminated.

  • Increase efficiency – Enable paperless processing, elimination of data entry and rework due to keypunch errors, free time to perform more analytical work and reducing errors, and automate follow-up and escalation processes.

  • Enhance decision-making – View total liabilities accurately, access process status immediately, improve accrual and cash flow decisions, and assist and comply with Sarbanes-Oxley/compliance and controls.

Related Technology:  SAP® – ECM Suite