Back-office processes

Vendor Invoice Management

  • Accelerates invoice and order processing

  • Increases ROI

  • Improves productivity

  • Ensures compliance

CHALLENGE

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-add tasks instead.

Invoice Management for SAP® Solutions streamlines procure-to-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 advices and related documentation on all levels. Ensure consistently accurate, timely and compliant financial payments to vendors every time.

BENEFITS

  • 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.

  • 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 preconfigured actions to solve an invoice problem, such as directly posting a goods receipt.

  • 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.

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Uncover the right Information Management Solutions to boost your business.

Looking for ways to boost your business? Implementing the right information management solutions can be a key factor in your success. One of our experts is happy to share the quick and long-term wins.  During this 60-minutes session, we’ll investigate your current situation, goals, possible gaps, and share our knowledge and insights.