CASE STUDY:
Vendor Invoice Upgrade and Optimization
Global Chemical Distributor improves invoice processing and approval time through upgrade and optimization of OpenText VIM
68
Productivity Increase on Invoice Processing
50
Reduction in Average Invoice Approval Time
Business Challenge
- Version of Vendor Invoice Management (VIM) solution was out of support
- Due to multiple mergers and acquisitions, the current deployment of VIM no longer aligned with the modified AP processes
- Reporting was a challenge due to having so many different invoice document types
- Poor optical character recognition (OCR) resulted in a high volume of manual data entry and corrections
- Changes and testing was very challenging due to having five environments (SBX, DEV, QA, TEST, & PRD) that were all out of sync and each giving different results
Solution
- Upgraded Invoice Capture Center (ICC), Vendor Invoice Management for SAP (VIM), Archiving and Document Access (ADA), Image Viewer, Enterprise Scan client and Validation clients
- Reviewed and updated business rules to align with the new AP Processes
- Consolidated systems, reduced the number of document types and removed outdated exceptions
- Increased recognition rates by re-training of vendor invoices within Invoice Capture Center
- Updated custom invoice approval process to align with standard chart of authority
Benefits & ROI
- 68% productivity increase on invoice processing due to better recognition rate on invoices and more targeted business rules to meet current AP challenges
- 50% reduction in average invoice approval time after the first year
- Over a 30% reduction in the number of document types resulting in a 50% decrease in report production time, 15% reduction in AP maintenance, and reduction in overall complexity for future upgrades or new deployments
- 65% faster testing time and more consistent and dependable testing results due to synchronization of all 4 non-production environments
