Handling Invoices with SAP Invoice Management
For many organizations, handling incoming invoices is a costly and often manual process. Manual input, time-consuming research, extensive communication with the supplier, manual routing and checks on unpaid invoices are aspects that take a lot of time.
In order to solve these kinds of problems and professionalize invoice processing, OpenText has developed Vendor Invoice Management (VIM), also called SAP Invoice Management (SIM). SIM is a standard SAP Add-on which is fully integrated within the SAP ECC and S/4HANA product portfolio. SIM helps to streamline invoice processing and minimize risks. It helps the Accounts Payable (CA) administration to better structure the processes around the creation, management, controls and routing of invoices within the organization. Further benefits include meeting payment deadlines, improving productivity and optimizing cash flows.
Avelon E-Invoicing is ideally used to process incoming XML and PDF invoices. The invoice, including associated metadata, is automatically read into SIM. Due to the extensive validation possibilities and high recognition rate, this facilitates your growth to zero touch invoice processing.
SAP Invoice Management, consists of the following components:
Avelon E-Invoicing (Optional)
Receiving and possibly transforming unstructured incoming invoices;
Document processing: the (automatic) indexing of invoice data and the creation of the SAP document;
Invoice approval: the approval and booking of non-purchase-order related invoices;
Exception handling: solving problems when indexing or booking an invoice;
SIM reports / Analyses: standard reports included with SIM.
For more information on SAP Invoice Management, see the SAP and OpenText websites.
Avelon is an official partner of SAP and OpenText for the implementation of SAP Invoice Management.
SIM Ready to Run
Since its introduction by SAP in 2008, Avelon has guided a large number of organisations through the successful implementation of SIM. Avelon offers a solid foundation of experienced and certified SIM consultants. This makes us a real specialist in this field and we consider SIM as one of the important pillars in our service.
Based on our knowledge and years of experience, Avelon has developed its own methodology for the implementation of SIM: SIM READY TO RUN. Ready to Run consists of a standard project approach, a set of best practices and based on this standard SIM configuration and template implementation documents.
Some examples of implementation documents are:
Project planning with activities and clear division of tasks
FIT/GAP workshop presentation
Blueprint
Flow charts with best practice process flows
Design document
Test scripts
Authorization matrix
Training material
Engagement deck & toolkit
Communication plan
To support the implementation, we use our own demo system so that your employees immediately get a picture of the possibilities of SIM and Ready to Run.
By using MDG Ready to Run, the implementation effort is substantially reduced and you are assured of a proven approach and setup.
SIM Managed Services
After implementation, it is important for you to maintain continuity of the SIM functionality and the quality of service. Avelon can support you in this by means of Avelon Managed Services.
More than just invoice processing: VIM Beyond Finance
Starting with VIM 7.6 (ECC) or VIM 20.4 (S/4HANA), OpenText's Vendor Invoice Management (VIM) includes all components of OpenText Business Center. This convergence of applications enables organizations to deploy fully automated, digital processes that go beyond the traditional financial focus of VIM. In fact, OpenText has transformed VIM into a powerful document automation platform they call VIM Beyond Finance. It is now a flexible solution that is able to process not only invoices but also order confirmations, delivery notes, sales orders, remittance advices, HR documents, and more in SAP. More information on this functionality can be found via this link.
More information
Do you need to discuss whether and how your organization can benefit from the possibilities offered by SAP Invoice Management? Please feel free to contact us. We will be happy to provide a demonstration or presentation so that you can see what benefits SIM can offer you.