With this blog, I would like to share with you some of the key innovations included in SAP Central Invoice Management 2305 release.
SAP Central Invoice Management provides a unified solution for receiving and managing supplier invoices for SAP S/4HANA Cloud, public edition customers. These innovations are focused on speeding up your business processes in the area of accounts payables.
With the 2305 release we are happy to announce the following new features:
- Support for Tax Fulfillment Date: When an invoice is uploaded to SAP Central Invoice Management, the tax fulfillment date is now extracted by the Document Information Extraction Service (embedded OCR) and passed to SAP Central Invoice Management. The Tax Fulfillment Date is the date on which the tax becomes chargeable, for example, the date on which goods or services are supplied. This date is used in the following countries/regions: Czechia, Hungary, Slovakia, and Spain. This features allows the full automation of invoice processing in the above listed countries/regions.
- Export invoice data and status to Invoice Status Portal (SAP Business Network):
- Use the invoice status portal available on SAP Business Network to:
- Enable suppliers to look up the status of invoices they have sent to buyers
- Provide a source of information for suppliers to receive invoice data and status updates
- Use SAP Central Invoice Management to:
- Send header data and status updates to Invoice Status Portal for all invoices received from connected backend systems
In addition, we want to draw you attention to an innovation, we released earlier this year:
- Smart accounting data determination
- For the creation of non-PO line items, in case no rules to determine the G/L account and cost object assignment (cost center and/or WBS element) are maintained, SAP Central Invoice Management will use a Machine Learning service to complete the invoice data based on former invoices. The automation rate will be automatically improved based on newly processed invoices.
- Data attribute recommendation is a machine learning service that is trained with a set of invoices that you select. Once data attribute recommendation is trained and activated, SAP Central Invoice Management can automatically enrich draft invoices using the data learned during the training.
- Data attribute recommendation can automatically enrich the following fields in draft invoices:
- G/L Account
- Cost Center
- WBS Element
I will be sharing more insights on coming innovations for SAP Central Invoice Management in my blog for future releases. Do follow my profile if you would like to know the latest and greatest features in with every release.
For more information on SAP Central Invoice Management, check out the following links:
