The right technology lets your finance organization focus on the right thing
On behalf of, Matthias Niessen, Solution Manager OpenText
Incoming paper documents and manual processes typically go hand in hand. Both are enemies of efficient and effective processing. The first piece of technology you need to embrace is scanning and archiving: It converts incoming paper to digitally archived documents which can be accessed from everywhere. This eliminates all delays caused through in-house mail delivery and pickup.
The second step is to optimize the process flow and then automate all steps which don’t rely on human judgment: Intelligent document recognition eliminates manual keying; business rules automate and standardize the classification of the document, the comparison against SAP master data and the determination of the role responsible for problem resolution. And an intelligent role resolution finally determines who is responsible to solve the problem.
It is crucial that such a solution is fully integrated into SAP: Specialists who need to support will find work items in their normal inbox and will continue to work in the same application using the same transactions they use anyhow. The big difference is that they will not need to enter fields like invoice number, purchase order number and similar because the automation orchestrates the flow and prepopulates all fields that are known from the invoice exception context. If the user needs additional information or as a colleague for support, Inquiries are initiated with the press of a button and
Having the right people doing the right thing at the right time is extremely important when considering compliance: The segregation of duties is key to avoid fraud. SAP Invoice Management by OpenText also records every process step in the audit trail – presenting full visibility even after years.
Can you save time and money by this approach? Sure you do. This approach firstly reduces the number of invoice “touches” and secondly the working time required to solve an invoice problem. The third component in the equation is the reduced waiting time between processing steps.
It is not uncommon to reduce the number of touches by 30%, the working time per problem by 30% and the waiting time by 70%. As a result, you can save 50% on labor and 80% on invoice cycle time which allows capturing all and even more discounts.
Tweak the numbers and check your own savings potential with our value calculator.