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Vendor Invoice Management

SAP Invoice Management (SIM), also known as OpenText Vendor Invoice Management (VIM), is recommended by SAP asthe add-on for processing incoming invoices. VIM has been developed by OpenText and is sold and supported by SAP.

OpenText Vendor Invoice Management (VIM) is used to automate the Accounts Payable Invoice processing to achieve; faster invoice processing, to improve AP invoice process by paying invoices on time, create workforce efficiencies through an automated, streamlined process with or without the added benefits of Shared Services, cut costs through process automation and control, reduce costly manual errors and optimize cash discount utilization and improve working capital management through better visibility to cash requirements. In summary, VIM helps streamline invoice processing and minimize risks. It helps Accounts Payable departments to support the complete process from receipt, transformation, routing and auditing.

The implementation includes the Invoice Capture Center (ICC) Optical Character Recognition (OCR) to extract data from the scanned paper invoices to eliminate tedious manual data entry process. VIM can be the single point of entry for all AP invoices including paper invoices, email invoices and EDI/Electronic invoices.

The VIM solution from Open Text is developed with best practice processes from various industry segments and uses SAP BAPI/SAP Workflow Technologies to automatically enter incoming vendor invoices into SAP. VIM comes with flexibility to configure workflow processes to automatically route invoice discrepancies to responsible business groups and eliminate delays in decision making/manual intervention. The VIM dashboards extend visibility to the invoice discrepancy, processing history as well as ability to view original paper invoice instantaneously as an image - there by facilitating business groups in a single point of collaboration and communication.

Based on our knowledge and experience in SIM implementations, a preconfigured SIM solutions is developed.