Supplier Invoice Management
Automate supplier invoice processing to maximize working capital
64%
Digital world class finance organizations deliver 64% lower transaction processing cost as a percentage of revenue[1]
Overview
Accounts Payable is responsible for processing and paying all incoming supplier invoices in a timely manner. Invoice processing can be an intense, labor-driven, paper-centric process fraught with data-keying errors, exceptions and inadequate internal controls. With many manual touch points within the invoice life cycle, exceptions prevent on-time payments.
Supplier Invoice Management solutions automate the process, from receipt through posting, reduce costs and offer detailed oversight of the entire Accounts Payable landscape.
Key benefits
Impact business and achieve better results.
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Maximize working capital
Process supplier invoices faster to take advantage of early payment discounts more often and strengthen relationships with suppliers.
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Automate invoicing
Eliminate time-consuming manual tasks with automated, touchless invoice processing, from receipt to matching to posting.
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Provide digital supplier experiences
Allow suppliers to view and retrieve orders and respond electronically.
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Obtain liability insights
Manage working capital and plan upcoming workloads with real-time reporting of outstanding liabilities.
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Reduce process inefficiencies
Identify bottlenecks in processes, take informed action and monitor improvement over time with collected metadata.
Business impacts
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Invoicing mandates
Many countries now mandate e-Invoicing processes that connect to government portals and can interpret digital document formats. Companies processing manually will be left behind and unable to compete globally. Stay compliant and competitive.
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Automated invoice processing
Accounts Payable teams strive for early payment discounts to save the business money. Manual touchpoints and exception processes can cause payment delays and duplication, losing discounts and costing money. Automate invoicing and maximize resources.
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Visibility across the entire process
Organizations must compare open orders to open liabilities to understand working capital and predict workloads. Limited liability insights increase the risk of inaccurate balance sheets and supplier overpayments. Digitize and analyze every invoice.
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Collaborating with other teams
Invoices rely on several teams collaborating to keep the process moving. With manual and paper-based processes, invoices can easily become lost or misplaced, delaying resolution and payment. Automatically route invoices via centralized inboxes.
Leaders trust OpenText
See how customers are succeeding with Supplier Invoice Management.
See more success stories
Nationwide grocery co-operative streamlines supply chain and achieves cost savings with OpenText Suite for SAP
Learn moreExplore the components of the solution
Products
OpenText offers a choice of products to manage supplier invoices.
- OpenText™ Vendor Invoice Management for SAP® SolutionsStreamline financial processes across all departments
- OpenText™ Active Invoices with ComplianceSimplify e-Invoicing compliance to meet regulations in more than 45 countries
- OpenText™ Active OrdersMake supply chains flexible and resilient
Professional Services
OpenText Consulting Services combines end-to-end solution implementation with comprehensive technology services to help improve systems.
- Accelerate your Information Management journeyConsulting Services
- Comprehensive Information Management services and resourcesExplore Professional Services
- Reduce time-to-value of Information Management solutionsOpenText Packaged Services
Supplier Invoice Management resources
OpenText Active Invoices with Compliance – Short Demo
Watch the videoIntroduction to Active Orders
Watch the videoGetting the most from Vendor Invoice Management on SAP S/4HANA
Read the blogHow can we help?
Footnotes
Footnotes
- [1]The Hackett Group, Digital World Class Finance, 2021