AP & Invoice Management

SAP DSN: The Bridge to Intelligent Spend 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…

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Case Study: Transforming Invoice Management to Prepare for Growth

Case Study: Transforming Invoice Management to Prepare for Growth In today’s highly competitive pharmaceuticals landscape, pharma startups in the nascent stages of development are always just one drug away from expansive mainstream traction. Companies that can’t quickly shift into high gear are at a marked disadvantage – a reality that underscores the pronounced importance of…

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Case Study: Custom Sales Order Process for Just-In-Time Delivery

Case Study: Custom Sales Order Process for Just-In-Time Delivery The automotive industry relies heavily on a just-in-time delivery model with orders often on the production line within a half-hour of delivery. To be successful in this competitive industry, Piolax USA developed an effective manual data entry strategy for their SAP environment. While reliable, they realized…

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Journey to S/4HANA: VIM and Information Capture

Journey to S/4HANA: VIM and Information Capture We’ve said it before and we’ll say it again: every company will have its own unique journey to S/4HANA. Each one will be influenced by the specifics of their SAP environment, and more importantly their unique business goals. But no matter your S/4HANA upgrade approach, you will be…

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Benefits of AP Automation Technology: Vendor Relationships and Working Capital

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…

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Essential Sessions for Sapphire 2022

Essential Sessions for Sapphire 2022 When asked “What are the essential sessions at Sapphire this year?” it would be easy to respond with a simple “All of them!” But as with any conference, we all know that it’s not possible to attend them all. In 2021 there were several great sessions on RISE with SAP,…

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Optimize OpenText VIM with Expert Analytics

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,…

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How Machine Learning Improves Invoice Automation

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…

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Reduce AP Costs with Invoice Automation

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…

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Digital Transformation with the Newest VIM Upgrade

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…

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What’s New in the VIM 21.4 Update?

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…

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Case Study: The Toro Company Eliminates Global Invoicing Obstacles

Case Study: The Toro Company Eliminates Global Invoicing Obstacles The Toro Company (Toro) is a global manufacturer of landscaping and turf, snow and ice management, and specialty construction products and services utilized by residential, commercial and government customers. Such a large business footprint in diverse industries require a complex invoice-to-pay process. The Challenge: Complex Invoicing…

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VIM Beyond Finance Transforms Incoming Remittance Advices Process

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…

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Create Automation Efficiencies with VIM Beyond Finance

Create Automation Efficiencies with VIM Beyond Finance OpenText’s Vendor Invoice Management (VIM) has always streamlined accounts payable operations. With their recent key updates, businesses can now leverage VIM to create fully automated digital processes beyond its traditional finance function. In effect, OpenText has transformed VIM into a powerful document automation platform that they refer to…

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