Boost invoice management capabilities with OpenText Vendor Invoice Management for SAP solutions

⇨ OpenText's Vendor Invoice Management (VIM) seamlessly integrates with SAP to enhance invoice processing efficiency, improve cash flow, and streamline operations for businesses.

⇨ VIM addresses common invoice management challenges such as poor visibility, compliance issues, and processing delays by automating validation, routing, approval, and fulfillment processes.

⇨ Organizations like innogy SE have successfully implemented VIM to handle large volumes of invoices electronically, leading to improved efficiency, compliance, and reduced processing time.

Invoice management can help organizations build relationships with suppliers and vendors, improve cash flow, streamline operations, accept online payments and facilitate auditing, and reporting capabilities. 

While proving beneficial in the operating efficiency of businesses, invoice management can come with its challenges. Some difficulties include poor visibility, scalability, compliance issues, invoice processing delays, unclear payment terms and conditions, and more. 

To help organizations overcome these challenges, OpenText, a provider of information management solutions, offers its Vendor Invoice Management solution to businesses looking to streamline their SAP financial processes. 

OpenText Vendor Invoice Management (VIM) for SAP Solutions is an invoice management and processing solution that fully integrates with SAP. The solution includes processes for invoices, sales orders, and delivery notes to support custom document processes. 

How OpenText VIM for SAP solutions can benefit businesses:

• Accelerate operations: streamline document-centric SAP processes throughout the enterprise to speed Accounts Payable processes through invoice, payment, and completion.
• Boost productivity and revenue: the solution prioritizes invoices and customer orders and automates validation, routing, approval, and fulfillment processes for an enhanced customer experience. 
• Ensure compliance: deploy pre-configured rules, roles, actions and industry best practices.
• Faster results: leverage pre-configured solutions for the most common SAP document types, such as invoices, sales orders and delivery notes, to realize ROI quickly. 
• Optimize workflows: use integrated analytics for root cause analysis and agility.

Key features of OpenText VIM for SAP Solutions are pre-configured rules, roles and actions, machine learning and AI, ECM integration, compliance integrations, intelligence capture, and native and SAP Fiori user interfaces. 

innogy SE transforms accounts payable processes with OpenText

European energy company, innogy SE, was looking for support, maintenance and handling of upgrades in multiple SAP systems as it proved difficult, time-consuming.

Having leveraged SAP R/3 for over two decades, innogy relied on non-standard workflows and processes that had been developed across multiple business entities and countries. As the business continued to grow, its SAP landscape had become distributed across multiple company codes and SAP systems. 

With around 330,000 supplier invoices to be processed each year, innogy needed to implement a solution that could be deployed with little or no customization. The solution had to be integrated with SAP and align with SAP’s roadmap to avoid future upgrade issues. 

Working with OpenText Professional Services, innogy implemented VIM for SAP Solutions. Speaking on the implementation process, Marcus Johannes, process manager accounts payable, innogy SE, said: “Suppliers in particular don’t want to submit invoices in paper form, they want to submit electronically.

“For some, that could be a simple email attachment, and for others this could involve some kind of electronic trading platform. OpenText Vendor Invoice Management for SAP Solutions enables us to handle hundreds of thousands of inbound transactions, regardless of the channel chosen by our suppliers.”

The OpenText solution contributed to the company’s goals of boosting efficiency, improving compliance and lowering risk. 

“User feedback is positive, we know we’re able to process invoices faster and more accurately now and we can quickly and easily check on the status of any invoice,” stated Johannes, “We can also see where things have stalled, thus enabling us to take prompt action and identify where we can further improve our processes.”