Take Control with Invoice Management Software
 

Take Control with Invoice Management Software

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You’re always looking for opportunities to work smarter and cut costs. What if you could help your accounts payable (AP) staff control invoice processing, optimize cash flow, and better manage the ...

You’re always looking for opportunities to work smarter and cut costs. What if you could help your accounts payable (AP) staff control invoice processing, optimize cash flow, and better manage the vendor relationship?



It’s time to make the transition from manual invoice processing to streamlined invoice management. The SAP Invoice Management application by OpenText offers the controls you need to comply with key national and international regulations while providing visibility into liabilities. With this application, you can focus on your best suppliers and manage credit ratings. What’s more, you can reward your vendors with responsive and timely payment, decrease the costs of handling supplier inquiries, and help ensure accurate financial reporting.

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Take Control with Invoice Management Software Take Control with Invoice Management Software Presentation Transcript

  • SAP Solution BriefSAP ERP Objectives Solution Benefits Quick FactsSAP Invoice Management by OpenText Take Control with Invoice Management Software
  • Objectives Solution Benefits Quick Facts Get ready for a new approach to invoice processingGet ready for a new approach to Processing vendor invoices quickly, accurately, and efficiently is the bestinvoice processing way to enhance worker productivity, cash flow, and vendor relations. The SAP® Invoice Management application by OpenText helps you manage invoice processing, meet critical payment and compliance deadlines, and avoid risks related to inaccurate business information. You’re always looking for opportunities to international regulations while providing visi- work smarter and cut costs. What if you could bility into liabilities. With this application, you help your accounts payable (AP) staff control can focus on your best suppliers and manage invoice processing, optimize cash flow, and credit ratings. What’s more, you can reward better manage the vendor relationship? your vendors with responsive and timely pay- ment, decrease the costs of handling supplier It’s time to make the transition from manual inquiries, and help ensure accurate financial invoice processing to streamlined invoice reporting. management. The SAP® Invoice Management application by OpenText offers the controls Take control with invoice management you need to comply with key national and software from SAP . 2
  • Objectives Solution Benefits Quick Facts Streamline AP operationsStreamline AP operations To help you simplify invoice management The software automatically routes invoices to processes throughout your organization, you the right person for resolution, approval, andReduce costs while enhancing need software that shares information and payment. Authorized non-AP employees canproductivity coordinates tasks with your other business quickly review and take action on invoices systems. SAP Invoice Management offers without a purchase order, using either anImprove visibility integration with the SAP ERP application and approval portal or the SAP NetWeaver Portal the SAP NetWeaver® technology platform, so component.Control financial processes you can streamline AP operations across and beyond the enterprise. Managers can even review and approve in-Improve cash flow voices using their mobile devices. By support- Stakeholders involved in any invoice problem ing remote document reviews, SAP InvoiceDeliver accurate, on-time can quickly and efficiently access invoice Management shrinks approval cycles andfinancial reporting information, such as relevant PO number, helps vendors get paid sooner. The mobile status of the invoice payment, and more. approval feature comes standard with theHelp ensure timely compliance SAP software.Improve vendor relations Forget about e-mailing invoices from one department to another. Automated workflows deliver the information to the right person at the right time. 3
  • Objectives Solution Benefits Quick Facts Reduce costs while enhancing productivityStreamline AP operations SAP Invoice Management can help you signif- Using OCR to Capture Data icantly reduce manual processing and boostReduce costs while enhancing productivity. Automated processing features Most advanced document technologies use optical character recognition (OCR) and document analysisproductivity replace traditional multistep, multitouch in- to automate the transfer of data from paper invoices voice processing with a solution based on into SAP software transactions. The available OCRImprove visibility business rules. Instead of requiring various option for SAP Invoice Management allows for straight- phone calls, e-mails, and copies of supporting through processing with minimal human intervention.Control financial processes documentation, the software guides the pro- With this option, you can capture and classify invoices cess to a timely, accurate conclusion with and route them to the appropriate people and processes.Improve cash flow minimal user intervention.Deliver accurate, on-time Once the invoice information is entered, you Continued on next pagefinancial reporting can access it automatically anywhere along the process lifecycle. Users can view all infor-Help ensure timely compliance mation related to the invoice transaction on a single screen. Images of supporting docu-Improve vendor relations mentation are available during processing and after process completion. Having the data available electronically lowers the risk of error and reduces processing costs per invoice. 4
  • Objectives Solution Benefits Quick FactsStreamline AP operations SAP Invoice Management lets you receive in- A powerful analytics engine lets you perform voice metadata from all electronic channels. internal and external queries about specificReduce costs while enhancing For example, the application automatically invoices. You can query invoices by supplierproductivity processes data received via electronic data and obtain immediate access to relevant interchange, as well as invoices received from data, reducing the number of time-consumingImprove visibility vendor networks. The software also inte- inquiries from vendors. Users can generate grates with the SAP Information Interchange reports on productivity, exceptions, channelControl financial processes OnDemand solution, a business-to-business input, and invoice aging. Executives can also e-commerce offering that can help you display summary views of the data.Improve cash flow streamline supply chain communications. Other electronic invoice sources – such as Many companies use a shared-services cen-Deliver accurate, on-time direct uploads, fax, and e-mail attachments – ter to aggregate huge invoice volumes. Whenfinancial reporting are also integrated with the process flow. invoice volumes rise, your AP organization needs to keep pace without increasing head-Help ensure timely compliance count. Through its integration with SAP Shared Service Framework software, SAP InvoiceImprove vendor relations Management lets you comfortably process more invoices without adding more staff. 5
  • Objectives Solution Benefits Quick Facts Improve visibilityStreamline AP operations With SAP Invoice Management, users gain Users’ view of data appears as a single real-time visibility into invoice status. The resource, no matter how many instances ofReduce costs while enhancing software provides links to supporting docu- the software operate behind the scenes. Youproductivity mentation related to purchase orders and can manage invoice processing in multiple goods receipt. The comprehensive view production instances from a single, centralImprove visibility aggregates invoices, so you can see the data point of control. you need to perform accruals at closing.Control financial processesImprove cash flowDeliver accurate, on-time Even if your software runs on several productionfinancial reporting instances, you won’t need to manually mergeHelp ensure timely compliance invoicing information.Improve vendor relations 6
  • Objectives Solution Benefits Quick Facts Control financial processesStreamline AP operations The software gives you powerful functionality SAP Invoice Management also supports the to control AP processing and help ensure that AP requirements of a broad range of coun-Reduce costs while enhancing the right information reaches the right person tries. The software includes country-specificproductivity at the right time. The application supports 47 rules and regulations. With these features, unique business rules that help you detect you can improve control no matter whereImprove visibility problems, such as duplicate invoices and your company operates or where suppliers routes for correction. are located.Control financial processesImprove cash flowDeliver accurate, on-timefinancial reporting Enhanced financial control is at your fingertips –Help ensure timely compliance whether you have one location or hundreds of global suppliers and partners.Improve vendor relations 7
  • Objectives Solution Benefits Quick Facts Improve cash flowStreamline AP operations Taking advantage of discounts for early pay- Paying vendors quickly also enables your pro- ment makes good business sense. With SAP curement group to negotiate new discounts.Reduce costs while enhancing Invoice Management, you can streamline With these features, you can have more cashproductivity workflows, initiate reminders, and shorten the on hand, improve your cash flow, and reduce payment cycle. With an optimized process in your exposure to liability due to late payment.Improve visibility place, you can take advantage of current dis- On-time payment may also improve your counts and enjoy increased profits. credit ratings.Control financial processesImprove cash flowDeliver accurate, on-timefinancial reporting Boost the bottom line with features thatHelp ensure timely compliance help you make the most of your cash.Improve vendor relations 8
  • Objectives Solution Benefits Quick Facts Deliver accurate, on-time financial reportingStreamline AP operations The software gives you automatic access You can generate reports that address specific to the AP information needed to populate invoice questions, and you can report on keyReduce costs while enhancing essential management reports. You can use performance indicators to promote continualproductivity these reports to reflect the most accurate process improvement. The application also and timely picture of your business for finan- helps you make sure company financial reportsImprove visibility cial and other reporting needs. like balance sheet and working capital infor- mation are up-to-date. By automating theseControl financial processes activities and eliminating manual processes, you lessen the risk of missing critical dead-Improve cash flow lines, thus avoiding fines and liability.Deliver accurate, on-timefinancial reportingHelp ensure timely compliance Exceed executives’ expectations withImprove vendor relations accurate, timely financial reports. 9
  • Objectives Solution Benefits Quick Facts Help ensure timely complianceStreamline AP operations In today’s global business environment, your Using preconfigured business rules, the appli- company must adhere to numerous regional, cation gives you the control to implement aReduce costs while enhancing national, and international regulations, such well-managed AP process. You can produceproductivity as the Sarbanes-Oxley Act. You need a rigor- extensive reports on the process, including a ous process in place that ensures compliance complete audit trail.Improve visibility and promotes fraud prevention.Control financial processesImprove cash flowDeliver accurate, on-timefinancial reporting Compliance becomes part of your regular routineHelp ensure timely compliance with SAP Invoice Management.Improve vendor relations 10
  • Objectives Solution Benefits Quick Facts Improve vendor relationsStreamline AP operations Maintaining close relationships with vendors The software helps simplify setup and main- helps your business run better. With SAP tenance of vendor information. It lets youReduce costs while enhancing Invoice Management, you can virtually elimi- collaborate on the basis of preconfigured busi-productivity nate late payments to vendors. When suppli- ness rules, but you can also engage in ad hoc ers call to check on payments, your AP staff communication when necessary. The applica-Improve visibility can promptly respond with current, accurate tion automatically captures comments as information. part of the workflow.Control financial processes These features put you in a position to negoti-Improve cash flow ate improved pricing and payment terms. You can set the tone for forward-looking partner-Deliver accurate, on-time ships that benefit you and your partners.financial reportingHelp ensure timely compliance Keeping your vendors happy helps yourImprove vendor relations company succeed. 11
  • Objectives Solution Benefits Quick Facts Reap the rewards of well-managed invoice processesReap the rewards of well-managed invoice The SAP Invoice Management application By reducing manual processes, the softwareprocesses gives you the control and visibility that can helps reduce labor-intensive effort and reallo- create significant business value. Cross- cate resources for other valuable tasks. A enterprise integration offers a single, unified shortened processing cycle lets you free up view of your AP activities, with clear visibility cash, helps improve your credit rating, and into purchases and payments. This central- may entitle you to special discounts. ized view appears no matter which method you use to input data or how many back-end Because the software incorporates a central, SAP software instances exist in your system standardized process with accurate informa- configuration. tion and fewer errors, it lessens your risk of exposure to noncompliance or even litigation. And the ability to provide timely reporting in- creases insight and helps ensure compliance with regulations and fiscal reporting require- ments. Finally, streamlined invoice processes reduce the number of petty issues that arise, so you can focus on what’s important in your relationships with vendors and partners. 12
  • www.sap.com Objectives Solution Benefits Quick Facts Summary Solution Replace error-prone, time-consuming, manu- •• AP process integration for a unified view of al invoice processes with automated invoice activities management features from the SAP® Invoice •• Controlled financial processes for manag- Management application by OpenText. By ing invoice processing with confidence processing vendor invoices quickly, accurate- •• Reporting that provides an accurate picture ly, and efficiently, you can enhance worker of your business productivity, cash flow, and vendor relations. •• Compliance to help ensure timely adher- ence to regulations and enhance fraud Objectives prevention •• Optimize the accounts payable (AP) process Benefits •• Automate data entry using optical charac- •• Boost productivity and revenue using auto- ter recognition mated processes •• Reduce manual, paper-based invoice •• Improve cash management by streamlining processes the payment process •• Increase control of the AP process •• Enhance vendor relations with shortened •• Improve cash flow and reduce costs invoice-to-pay cycles •• Enhance vendor relations through on-time •• Increase business control with an accurate payments picture of invoice processing •• Reduce vendor status inquiries •• Comply with regulations Learn more •• Help ensure accurate, timely reporting to Visit us online at www.sap.com/usa internal and external entities /solutions/solutionextensions /invoice-management/index.epx. CMP2943 (12/05)Copyright/Trademark | Privacy | Impressum 13 ©2012 SAP AG. All rights reserved.