Have you ever thought of improving the end-to-end process of vendor invoice management (VIM) by making it digitized and collaborative? It’s now possible for your suppliers to take an active role in the overall collaboration process of invoice processing, enabling you to:
- Reduce/save the time of staff responding to supplier queries regarding invoice status or payment
- Keep track of all the external communications and additional documents exchanged for a given invoice
- Ensure the invoice submitted is compliant with all the information required by your organization
- Finally, keep your supplier community happy with complete transparency
The right self-service supplier portal can help you achieve all this and more. An efficient supplier portal can provide significant returns through reduced overheads and the ability to reallocate resources to higher-value activities. It can drive down overall invoice exceptions and time spent on exception handling while improving customer collaboration, transparency and the overall supplier relationship.
There are several portals in the market, each with its own benefits and pricing models. Before choosing one, business leaders should weigh the investment versus value—without doing this, the risk is ending up with a whole bunch of features that might be seldom used or unusable. In my view, the self-service supplier portal should be lightweight, scalable and deeply integrated with SAP and the OpenText VIM Solution.
OpenText™ Vendor Invoice Management for SAP® Solutions offers a complete set of functionality for handling any type of supplier invoice such as – multichannel invoice injection, intelligent capture, document archival, SAP workflow-based exception handling, roles determination, flexible approval process and strong analytics – and with the option of performing all of these on desktop or handheld devices!
- Submission of an invoice via a “flip functionality”—PO and credit memo (PO/NPO)
- Invoice status viewing from submission to payment
- User management to add/remove users
- Secure 2-factor authentication (email/SMS OTP)
- VIM with 2-way communication for invoice uploading, including the attachment of additional documents
The OpenText Professional Services team has the right experience, knowledge and experts to help organizations become more resilient. They have already helped many customers achieve process efficiency, financial insight and smooth business execution. Learn more about the OpenText Flipper Portal or contact us for more information.
Author: Sandeep Reddy , Director Professional Services