Enhancing Invoice Accuracy and Processing Speed with SAP S/4HANA And Open text VIM
DOI:
https://doi.org/10.63282/3050-9246.IJETCSIT-V6I3P110Keywords:
Open Text Vendor Invoice Management (VIM), SAP S/4HANA, Supplier Invoices, Exception Handling, Price Variance, Quantity VarianceAbstract
Timely supplier invoice processing is crucial for any organization as it can benefit business in various ways such as cost savings through availing discounts if invoices are paid early, avoiding penalties due to delays in processing invoices and paying them on-time, maintaining strong relationship with suppliers etc whereas processing thousands of invoices everyday with accuracy on time is always challenging as suppliers provide invoices using different channels, various formats and fonts etc. Organizations that deal with substantial volume of invoices are required to have the necessary tools that support any ingestion channel and technologies that can read invoice details from any format. OpenText Vendor Invoice Management (VIM) in integration with SAP S/4HANA can be deployed to automate supplier invoice processing. This article provides insights into what is OpenText Vendor Invoice Management (VIM) platform, its benefits and how its integration with SAP S/4HANA can enhance invoice accuracy and processing speed through the automation of invoice processing
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References
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