AP & Invoice Management

SAP DSN Membership: The Bridge to Intelligent Spend Management A clear spend management strategy is critical for any business. The balancing act of managing and optimizing spend in today’s volatile marketplace is challenging. Implementing a real-time, intelligent spend management strategy is one of the best ways to minimize uncertainty. Companies that successfully develop an intelligent…

Benefits of AP Automation Technology: Vendor Relationships and Working Capital In our previous post, we discussed centralization as one of the main benefits of AP automation technology to today’s remote workforce. With a centralized solution, in-office and remote workers can access the same data, inboxes, workflows, and organization structure allowing the business to be more…

Optimize OpenText VIM with Expert Analytics While automating vendor invoice management processes with OpenText™ Vendor Invoice Management for SAP can dramatically improve the efficiency of your AP team, monitoring and resolving inefficiency in processes can be difficult. Out-of-the-box, OpenText VIM provides minimal standard reports, although it does provide the ability to export complex, raw data,…

How Machine Learning Improves Invoice Automation In every industry, accounts payable (AP) and related invoice management teams are beginning to recognize the benefits of incorporating automated workflows with embedded machine learning capability. These tools help finance departments reduce errors, identify fraud, and save substantial money. For example, a 2020 U.K. survey shows that accounts payable…

Benefits of AP Automation Technology: Centralization and the Remote Workforce In recent years, many organizations have been reviewing remote work options or rolling it out slowly to see how it can be beneficial. The COVID-19 pandemic has undoubtedly accelerated this new way of working. According to a 2021 Gartner report on human resources trends, 48%…

Reduce AP Costs with Invoice Automation As a company grows, maintaining an efficient and cost-effective AP team is a formidable challenge, but multiple studies show how important it is to reduce AP costs with invoice automation solutions. In 2021, the Institute of Finance and Management (IOFM) estimated that a single invoice can cost as much…

Digital Transformation with the Newest VIM Upgrade by OpenText and SAP A major goal of any digital transformation effort is to eliminate the need for traditional paper documents and time-consuming manual processes. OpenText™ Vendor Invoice Management (VIM) for SAP helps deliver this by allowing enterprises to automate and streamline invoicing, payment processing tasks, and additional…

What’s New in VIM 21.4? At the end of 2021, OpenText announced the release of VIM 21.4 (for S/4HANA) and VIM 7.6 SPS2 (for ECC), an upgrade that builds on the benefits of last year’s major changes. In its latest VIM update, OpenText powered up many VIM features by integrating them with native SAP Fiori…

VIM Beyond Finance Transforms Incoming Remittance Advices Process Since the pandemic started in 2020, most of us are doing business in a world full of new uncertainties for the foreseeable future. For example, gone is the certainty of steady cash flow, where a business can expect their customers to pay on time or even at…