Accounting automation has become an imperative for companies always looking for new solutions to optimize their processes, including financial ones. In this context, SAP Invoice Management by OpenText emerges as a comprehensive solution that automates the entire invoicing lifecycle, from receipt to posting. Let’s find out about its features, benefits and integrations through a comprehensive overview of its functionalities.

Benefits of accounting automation

Accounting automation is already an established trend in enterprise-level companies, and it is now spreading to companies of all sizes because of its many benefits. It reduces the time and effort required to perform repetitive accounting tasks, minimizes human error, and improves audit accuracy. In addition, accounting automation can lead to greater tax and regulatory compliance: in fact, automated systems are often designed to be in line with applicable laws and regulations. This not only improves efficiency, but also corporate compliance, solving many headaches upstream of any problems.

SAP Invoice Management by OpenText: key features

SAP Invoice Management by OpenText, which in some cases is also identified as SAP VIM (although this nomenclature is now outdated) is a solution that enables you to efficiently and securely manage the electronic invoicing process by integrating with the SAP ecosystem, particularly the ERP ecosystem. With this solution, you can reduce operational costs, improve data quality, speed up payment times and increase regulatory compliance. We recall here some of its main features.

End-to-End Automation: SAP VIM is designed to automate the entire flow of purchase invoices, from recording to accounting and archiving.

Integration with SAP: Since it is a certified Add-On and fully integrated with the SAP system, it supports all incoming invoice ingestion mechanisms used by the ecosystem, from e-mail to the interchange system to faxes.

Exception handling: thanks to exception handling matrices, it eliminates 99% of problems with incoming invoice handling, even in the case of major nonconformities.

Tax compliance: integrates indirect tax controls, ensuring that invoices meet the legal requirements for each commodity category.

Machine Learning and AI: Like many other tools in the SAP ecosystem, SAP Invoice Management by OpenText uses machine learning and other advanced learning tools to simplify repetitive processes, for example, invoice approval, and thus minimize data entry and other manual actions.

Benefits of an integrated ecosystem with SAP

Integrating invoice management into SAP offers significant added value. For example, native integration with SAP ERPs, particularly S/4HANA, enables greater data consistency and better visibility across the entire enterprise, breaking down those silos that often characterize administrative management. In addition, integration with other specific tools provides considerable strategic advantages. For example, when used in concert with SAP Ariba Network it facilitates collaboration with suppliers, making the entire invoice management throughout the lifecycle more efficient.

The operational benefits of SAP Invoice Management by OpenText.

The features and functionality of SAP Invoice Management by OpenText make it a valuable ally for accounting automation, but let’s look in more detail at some of the key benefits it can offer:

  • Operational efficiency-acceleration of accounts payable processes through integration with SAP ERPs;
  • Cash flow optimization-improving workflows and shortening the payment cycle;
  • Compliance – preconfigured rules, roles and actions to ensure compliance at each step of the process;
  • Analysis and Reporting-prepared reporting tools provide a complete set of financial statements based on the data recorded in the system.

The importance of partner choice

When adopting such complex and integrated solutions, choosing a reliable and certified partner is critical. At Regesta, we are an established Italian SAP Gold Partner and offer a wide range of services and solutions from ERP to Digital Core, from supply chain management to smart technologies such as IoT and Cloud Platform. With a presence in over 30 countries and a team of over 200 employees, we guarantee not only the commitment, flexibility and deep market knowledge of a specialized partner, but also the geographic coverage of an international provider.

The right ally for smart automation

SAP Invoice Management by OpenText is a robust solution that offers complete automation and efficient invoice management. With its native integration with SAP and other platforms such as Ariba Network, it creates a complete ecosystem for invoice management, making it a valuable ally for any company looking to streamline its accounting processes.

Our team of consultants is ready to listen to your requests and provide you with the best solutions on accounting automation: for more information contact us without obligation.