CASE STUDY:
Accounts Payable Invoice Payment Optimization and Automation
Leading Industrial Manufacturer realizes global invoice payment and processing through OpenText Intelligent Capture and VIM for SAP
Business Challenge
- Accounts payable processing for vendor invoices was different at each location
- Lacked visibility into vendor invoices across all AP departments
- Problematic reporting capabilities caused data gaps and resulted in delayed payments for the organization
- Manual entry of paper invoice data required longer processing time and additional resources for invoices to be paid on time
- The company was moving to AP S/4HANA and the project work needed to align with that timeline
Solution
- Implemented Intelligent Capture (Captiva) for SAP by OpenText to ingest invoices and digitally capture data for processing using advanced OCR capabilities
- Deployed OpenText Vendor Invoice Management (VIM) for SAP to process invoices and automate resolution routing
- Implemented the solution in a phased approach along with the deployment of S4/HANA to ensure no disruption to the client’s business
- Delivered global reporting and analysis capabilities to all AP departments
Benefits & ROI
- Improved vendor invoice submission and processing rate by 60%+ through the use of a clear, simple and unified processing solution
- Enabled greater visibility of vendor invoices throughout all 11 global locations
- Improved ingestion of invoices and validation of data through automation and OCR capabilities leading to reduced errors and faster processing
- Enhanced tracking and auditing leveraging global reporting and analysis capabilities
- Improved reporting and analysis by providing global capabilities across the entire organization, enabling continuous improvement capabilities for the AP teams
