Vendor Invoice Management Solution
Organizations have invested in the ERP System, with a workflow system for invoice processing, only process which normally is missing is a solution for capturing the incoming vendor paper invoice data. VIM Solution for SAP completes the automated invoice processing.
VIM Solution for SAP S/4Hana (Vendor Invoice Management)
SAP Invoice Management by Nexus - a solution designed for organizations focusing on running their principal business and looking for sap solutions to shorten the time of financial document processing to the minimal time. The VIM solution is very much optimized and simplifies the invoice receipt process, handling, routing and monitoring invoices and related documentation process with Vendor Invoice Management for SAP. Members involved in any invoice problem, can quickly and efficiently access invoice information - relevant PO number, invoice payments status etc..
Invoice Scan to Post Process in SAP S/4 HANA
Best practices – invoice receipt to post
- Receive invoices at a central location (mail or email or EDI)
- Scan invoices, if not received electronically or through EDI
- Utilize OCR (optical character recognition) to capture key invoice data for non-EDI invoices (EDI Process does not require the OCR Functionality).
- Utilize SAP or Invoice Management workflow to automatically route invoices for matching and posting
Designed on ABAP, the Vendor Invoice Management Solution is installed on the same SAP instance. The VIM solution provides the benefits of multilanguage and multi-currency, without interface of third-party tool. Approval workflows are automatically routed based on the existing hierarchies, exceptions are handled ensuring that no invoice is missed or not processed, to avoid follow-up from vendors to Vendor Invoice Management for SAP.
Vendor Invoice Management Solution Features:
Incoming documents from any source: Receipt & entry of documents from any input channels and in any format.
Automated invoice data extraction: Integrated with Intelligent Capture for SAP Solutions to cull header and line item details quickly, reliably and automatically, based on a knowledge base of thousands of invoice samples. Optimized review and approval process: Identifying intelligently enriching missing information. Controlled and automated exception recognition and handling, parallel approvals & escalations, invoice posting and reporting, resulting in a reduced cost per transaction to VIM Solution for SAP.
Powers designated workflows: Providing predefined workflows with strong and extensible baseline functionality.
Automates invoice routing and sorting: User roles nominated workflow, sorting & exceptions, authorization criterions,
Automates invoice routing and sorting: User roles nominated workflow, sorting & exceptions, authorization criterions, priorities and predefined timelines to ensure secured access actions. priorities and predefined timelines to ensure secured access actions through VIM Solution for SAP.
Generate reports: Built-in reports and data models as per user needs. Drills down into details: Accesses applications, content and history using intuitive, graphical dashboards with buttons that drill down into the original image, information and document flow using Vendor Invoice Management for SAP.
What’s new? An innovative approach to capture
The software recognizes the type of incoming document and intelligently captures the full information in the right business context to pass it to the correct process, allowing the maximum level of automation with VIM Solution for SAP.
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Expanded RPA Capability
VIM enlarges its automation capability with SAP iRPA (Intelligent RPA), providing additional integration points into VIM for calls to an RPA solution. For instance, in a sales order procedure the system can use an RPA bot to pick up an email that includes a sales order and capture it into the VIM system.
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VIM and IC Improvements
Update includes a wide range of technical improvements, workflow improvements and functional additions that expand the capability throughout the VIM solution.
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Manual Validation Triggers
Ability to easily trigger validation on individual documents from the business center workplace. VIM is providing an “Execute button” in the Ready for Validation step that opens the validation client screen allowing instant validation access on any invoice as needed.
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In-line Translation
A new integration that allows the system to translate user comments from other languages. This is valuable for international organizations users working in various languages, regions, now user can easily add and read workflow comments.
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Transfer Training Data
From the latest release, organizations can easily import training data letting them to start training on vendor and document scenarios at the very early stage in the development process.
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Expanded FIORI Support
Currently, there are two generic apps, eleven VIM-specific tiles, fifteen P2P and O2C focused tiles, and twenty ODATA analytical data sources. This means that FIORI tiles and the sophisticated, streamlined experience they bring will continue to be an integral part of the VIM environment.
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FIORI Analytics
Providing the data feeds that can be consumed to deliver analytic data. This allows customers to choose any FIORI Analytics tools and configure the apps to their specific needs.
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FIORI Vendor Invoices Report
Businesses will be able to select and filter all the invoices registered in VIM, and view the invoice details including fields, history, attachments, processing and approval log. It also supports the semantic navigation to and from SAP apps like "Vendor Fact Sheet" and "Manage Purchase Orders."
Organizations can benefit from Advantages of Vendor Invoice Management:
Accelerated order-to-pay operations across the enterprise.
Enhanced recognition enabled with machine learning technology.
Increased productivity and revenue as automatized routing, approval, and payment
processes.
Ensuring accuracy, on-time financial reporting
Improved cash flow as streamlined workflow, initiating reminders and shortened payment
cycle.
Regulatory compliance -well-managed process using preconfigured rules, roles and actions.
Accelerated invoice and order processing via quick data capture and automated routing.
Increased ROI with reduction in cycle times and improved delivery productivity through
intelligent automation.
Eliminates manual data entry