Automation of Vendor Invoice Process with OpenText Vendor Invoice Management
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© 2023 by IJCTT Journal
Volume-71 Issue-8
Year of Publication : 2023
Authors : Venkata Sathya Kumar Koppisetti
DOI :  10.14445/22312803/IJCTT-V71I8P111

How to Cite?

Venkata Sathya Kumar Koppisetti, "Automation of Vendor Invoice Process with OpenText Vendor Invoice Management ," International Journal of Computer Trends and Technology, vol. 71, no. 8, pp. 71-75, 2023. Crossref, https://doi.org/10.14445/22312803/IJCTT-V71I8P111

Abstract
Any Enterprise profit depends on optimizing the procurement and automating the labor-intensive manual tasks. Accounts Payable is one such department where timely action on the Vendor Invoices is needed. Otherwise, it will result in delayed payments, compliance issues and the risk of losing vendor trade relationships. In this article, I will cover the advantages of using OpenText VIM as an add-on to the SAP S/4 HANA system over other available OCR applications and how an Enterprise can benefit by leveraging this software application, considering the Image Quality of Vendor Invoices, Master data, Applicable Business Rules, Country Specific Localization and Strategies to apply for faster and timely processing of Invoices. This article will focus on the Successful Strategies to consider while implementing OCR solutions for Vendor Invoices. It will not see much effect on the Invoice automation process due to delays in the data extraction process, poor quality of images, the volume of invoices or incorrect master data.

Keywords
OpenText VIM, SAP S/4 HANA, Vendor invoice, Account payables, OCR, Compliance, FIORI.

Reference

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