Vendor Invoice Management

VENDOR INVOICE MANAGEMENT: 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.
Business Users: Finance department, Accounts Payable manager
Related Technology: SAP® – ECM Suite

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.

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Paperless Invoice Management

Reduce cost-per invoice
by up to 50%