Finance executives often spend a lot of time maintaining operations instead of investing in business innovation. The target should actually be that the value is above 50%. In reality, over 70% of the time is spent analysing and auditing data.
This is where the electronic invoice workflow comes into play.
It automates and simplifies processes around incoming invoices.
Various aspects play a role here: paper-based invoices mean too high costs, there are exceptions in 15% of all invoices, discounts and payments are missed in 80% of cases.
For many years, OpenText VIM (Vendor Invoice Management for SAP Solutions) has been a market-leading solution for invoice management in SAP environments.
It reduces operating costs by 50%, eliminates human typing errors, increases productivity by 55%, increases document efficiency by 75%, increases capacity to respond to incoming requests faster, and saves 85% of the time spent searching for customer documents.
By the way: Did you know that OpenText VIM can now also process invoice-related documents? These include order confirmations, delivery notes, quotations, purchase orders and credit notes.
Are you curious? We would be happy to show you the advantages of OpenText VIM in a demo. Please feel free to contact us.