OpenText Vendor Invoice Management for SAP® Solutions

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Features

Learn more about the key capabilities of OpenText Vendor Invoice Management:

• Automate invoice data entry with OCR: The ICC option for VIM contains a “knowledge base” that has been trained on samples of thousands of invoices from multiple countries around the world. VIM's extensive knowledge base means that ICC can more intelligently recognize the type and position of invoice data, and extract it accurately without human intervention.
• Manage the review and approval process: VIM offers controlled and automated exceptions handling, aging, escalation, and reporting, resulting in reduced cost per transaction.
• Leverage designated workflows: VIM provides predefined workflow templates with robust and extensible baseline functionality, shortening your implementation time, and reducing deployment costs.
• Automate invoice routing and sorting: Designate workflow steps to sort and route invoices based on user roles, authorization rules, and predefined timelines.
• Generate reports: Generate reports based on region, business unit, exception type, liability, and more. Capture predefined exception data with which you can produce cause and effect process diagrams.
• Drill down to invoice information: Access applications, content, and history using an intuitive, graphical dashboard with buttons that drill down into the original invoice image, purchase order, goods receipt, and invoice information.
• Enter invoices from any location: Enter invoices from any location directly into the ERP system using an Internet connection. This gives Line managers greater control over budgets and simplifies invoice management.
• Classify invoices automatically: Classify problem invoices automatically for further action as blocked, parked or held. Classification determines next steps in the processing cycle and various degrees of escalation notices are sent.
• Route invoices: Depending on classification, invoice exceptions are routed according to established business rules and policies. Workflow policies determine where invoices are routed and what approvals or next steps are required.
• Monitor status and notification: Monitor where invoices stand in the payment process and notify vendors of payment exceptions to speed issue resolution.
• Make all invoices electronic: Include invoices in electronic form, whether scanned, faxed, delivered via XML, or entered by the vendor using an online self-service portal. VIM can be linked with advanced imaging solutions such as indexing, automated duplicate invoice checking, and optical character recognition (OCR). You can display them with associated purchase order numbers.
• View invoice history: Receive information about past invoices, including detailed invoice history and past payment information.
• Resolve disputes: When dealing with invoice disputes, AP personnel can use VIM request additional information, receive status of orders, send notification of cancelled invoices, and collaborate with other AP staff.
• Partner setup and maintenance: Work with other AP staff to establish authorization protocols and access rights for creation and maintenance of partner profiles.
• Collaborate: Initiate and respond to questions and issues related to problem invoices, payment histories and partner profiles.