TechTiera - IT Solutions & Professional Staffing Services Company
TechTiera - IT Solutions & Professional Staffing Services Company
IT Solutions & Professional Staffing Services CompanyIT Solutions & Professional Staffing Services Company

SAP Invoice Management and Automation

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SAP Invoice Management and Automation

There are many solutions for Invoice Management and Automation for SAP including Esker, Basware, Readsoft and OpenText Vendor Invoice Management (OpenText VIM) for SAP. Invoice Management and Automation Tools enhances the SAP systems capabilities in invoice processing workflow, improves accuracy, reduces manual efforts, and provides greater visibility and control over the entire invoice lifecycle.

Overview of Invoice Management and Automation Tools:

Invoice Capture and Extraction:
Enables the automated capture and extraction of invoice data from various sources, including scanned paper invoices, email attachments, and electronic invoices. Optical Character Recognition (OCR) technology is used to extract relevant information such as vendor details, invoice numbers, line items, and amounts.
Workflow and Approval Management:
Enables flexible and configurable workflow engine that automates the routing, review, and approval of invoices. It supports multi-level approval hierarchies, exception handling, and escalations to ensure timely processing and minimize bottlenecks.
Invoice Validation and Matching:
VIM provides extensive validation and matching capabilities to verify the accuracy and integrity of invoice data. It performs three-way matching between the invoice, purchase order, and goods receipt to ensure invoice accuracy and compliance with procurement policies.
Integration with SAP ERP:
Invoice Management and Automation Tools seamlessly integrates with SAP ERP systems, leveraging the existing SAP infrastructure and data models. This feature enables integration with SAP Vendor Master Data, General Ledger, and Purchase Order modules, ensuring data consistency and real-time updates across the SAP ecosystem.
Document Archiving and Retrieval:
Invoice Management and Automation Tools offers document archiving and retrieval functionalities, allowing users to store and retrieve invoice documents electronically. Usually Invoice Management and Automation Tools provide a central repository for invoice-related documents, facilitating easy access, audit trails, and compliance with record-keeping requirements.
Analytics and Reporting:
Invoice Management and Automation Tools provide comprehensive reporting and analytics capabilities to gain insights into invoice processing performance, exception rates, approval cycle times, and other key metrics. Most of the tools come with pre-built reports and customizable dashboards for monitoring and analyzing invoice data, TechTiera can also assist customers in case they want additional reporting capabilities.
Vendor Collaboration:
Invoice Management and Automation Tools enables secure collaboration with vendors through a self-service portal. Vendors can access invoice status, submit supporting documents, and communicate directly with accounts payable teams, improving transparency and reducing manual inquiries.
Compliance and Audit:
Most of the Invoice Management and Automation Tools support compliance with regulatory requirements and internal control standards. by implementing Invoice Management and Automation Tools complete audit trail of invoice activities, track changes and approvals, and enforce segregation of duties to ensure compliance and mitigate fraud risks.

Invoice Management and Automation Tools helps organizations optimize their accounts payable processes by automating manual tasks, reducing errors, enhancing collaboration, and improving visibility into invoice processing. It streamlines operations, reduces costs, and enables better financial control within SAP environments.

TechTiera has extensive experience with OpenText Vendor Invoice Management for SAP and Kofax Readsoft.

OpenText Vendor Invoice Management for SAP (OpenText VIM) Services

  • Strategy & Assessments Services
  • Architecture & Design Services
  • OpenText VIM Implementation & Configuration Services
  • OpenText VIM Customizations and enhancements
  • OpenText VIM Upgrades
  • OpenText VIM Integrations
  • OpenText VIM Ongoing Support & Maintenance

Kofax Readsoft Services

  • Strategy & Assessments Services
  • Kofax Readsoft Architecture & Design Services
  • Kofax Readsoft Implementation & Configuration Services
  • Kofax Readsoft Customizations and enhancements
  • Kofax Readsoft Ongoing Support & Maintenance

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