SAP Invoice Management by OpenText has been saved
SAP Invoice Management by OpenText
Learn how Deloitte can help your company leverage OpenText solutions as part of your Enterprise Information Management strategy
About Vendor Invoice Management
SAP Invoice Management by OpenText (also known as OpenText Vendor Invoice Management for SAP Solutions - VIM) is a leading solution to process incoming invoices in SAP.
It focusses on simplifying and optimizing the Accounts Payable process:
- Input: Invoices enter the system through channels including scanning, email and IDOC
- Transformation: OCR can be applied on all PDFs and scanned images to automatically extract data; manual work is only required on an exception basis
- Verification & exception handling: Sophisticated rules verify the invoice and route it through a workflow; if an issue is detected the invoice is sent to a user's inbox for review; the user can then make changes or redirect to the corresponding subject matter expert
- Approval: users can approve non-PO invoices can be given through SAP GUI, Portal or mobile applications; VIM makes sure the invoices are sent for approval to the right people based on extensive business rules
- All done: If all rules show green lights, the invoice is created and posted in the SAP FI/AP system for subsequent payment
Key benefits of VIM
Vendor Invoice Management can enable major efficiency gains, more accurate data and significant cost savings:
- Automation of the invoice processing flow: VIM works on an exception basis: users only need to be involved when absolutely necessary, so it is perfectly possible for certain invoices to be processed 100% automatically
- Focus and cooperation: users are assigned specific roles in VIM, ranging from indexers and processors to tax and SRM experts; within these roles, they share the workload and are able to redirect invoices to other roles or specific colleagues if necessary
- Insights in the invoice-to-pay cycle: VIM dashboards are available to analyze and optimize the efficiency of the process: high level overviews give a good prediction of expected costs, while more granular views can help identify and resolve bottlenecks to speed up the invoice-to-pay cycle time
Customer case: Deloitte Belgium leverages VIM for its complex AP process
In a great example of putting your money where your mouth is, Deloitte Belgium implemented Vendor Invoice Management back in 2013 to significantly improve the invoice run through time: key enablers are the easily accesible approval process and increased consistency in the overall process. Read more about this case on OpenText.com.
Solution: Automatic Tax Code Determination
One of the challenges to automate the AP process is the tax code assignment since this can’t be captured from the invoice. By combining our Tax and VIM expertise, we have developed an Automatic Tax Code Determination solution. It has the objective to assign a correct tax code to each line item of PO and non-PO invoices using master data and PO data (for PO invoices) similarly to other existing logics.
Deloitte's expertise in Vendor Invoice Management
Deloitte's Belgium member firm is EMEA's Center of Excellence for OpenText: we can rely on a team of 20+ consultants who are skilled and certified in OpenText solutions
How can we help your company?
Our major ECM service offerings include:
- Strategy & Architecture - Developing a content management strategy and roadmap and creating a technology architecture.
- Design & Implementation - Analyzing, designing and implementing technology solutions and processes for managing content.
- Tool Selection - Providing the right set of applications through our extensive partnerships with leading content management and portal vendors.
- Software sales - As certified OpenText Reseller, Deloitte can guide you through the procurement process.