Time Saving Technologies for Accounts Departments with SAP.

20Blog August, 17

With SAP standard the processing of supplier invoice processing entails a significant amount of manual work and human interaction. The current standard process mean that the AP team could be wasting a lot of time on manual tasks that might be better with assigned to technology.

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Technology Significantly Reduces Operational Costs within Accounts Payable

00Blog July, 17

Most enterprises have an intention to process their supplier invoice payments in an economical manner and to ensure that the Accounts department is running efficiently. Businesses want to keep their operational costs low still provide high quality data. Organisations are continuously looking at methods to lower costs and business improvement processes.

For supplier invoice processing, the time-consuming tasks of the manual work combine result in costs that could be best served with technology alternative. The FIS invoice processing technology, FIS/edc, provides a cost-effective solution to the existing manual tasks, which save businesses time and money and offer more reliable results. The technology significantly reduces the cost of processing supplier invoice payments and allows the Accounts Payable team to run more efficiently – with more time to perform more valuable tasks.

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How FIS Technology Can Boost Efficiencies in SAP ERP

00Blog June, 17

In SAP standard, the manual processing of supplier invoices can consume a lot of time and effort. Invoices arrive in different formats which then have to be manually captured and checked before they are sent for payment authorisation.

The SAP standard system results in valuable time being lost, as the invoices may have In SAP standard, the manual processing of supplier invoices can consume a lot of time and effort. Invoices arrive in different formats which then have to be manually captured and checked before they are sent for payment authorisation.

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How Shared Service Centres Can Benefit From Invoice Reading Technology

00Blog May, 17

Over the past decade, there has been a significant rise in the number of shared service centres (SSC) being formed. The Accounts Payable Team within these centres are posed with a number of challenges on a daily basis. The use of manual data entry can decrease the efficiency of the SSC and also potentially introduce keying errors that result in inaccurate data being introduced to the ERP/Accounts software.

There are many organisations that are attempting to set up SSC’s with less expensive labour costs. The use of invoice reading technology is becoming increasingly popular, as it is an important method in which SSC’s can improve the accuracy and accelerate the throughput of their invoice data in a cost-effective manner.

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How the Accounts Payables Team Benefit From an Integrated SAP Solution for Invoice Processing

00BlogTags: April, 17

With SAP standard, invoice processing is generally labour intensive and has several inherent inefficient practises. Also, the reliance on manual data-entry tasks means that the standard system could be receiving inaccurate, miss-keyed data. FIS/fci is a technology which has been designed specifically to read invoice content automatically and includes validation checks to ensure that all data fields are feasible, complete and in arithmetic agreement.

The FIS/edc (invoice monitor) is a deeply integrated SAP ERP invoice processing solution referencing live SAP data – no modifications are required to SAP standard. The FIS/edc invoice monitor solution is fully integrated into the existing SAP environment using standard SAP GUIs but with additional functionality to assist with quicker postings on invoices.

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The FIS/edc Solution Extending Beyond Invoice Processing

00BlogTags: April, 17

FIS/edc is an automated Invoice and document processing SMART technology created by FIS. The technology is designed to streamline and to improve the efficiency of the existing SAP standard with regards to invoice processing and deeply integrated into SAP ECC standard. No modifications are necessary to SAP ECC. FIS/edc works within standard SAP GUIs and therefore minimal training is required for employees already familiar with SAP standard.

The FIS/fci component reads the data from incoming invoices, extract the relevant data and then passes the information to FIS/edc. The solution significantly reduces the need for human intervention, ultimately saving businesses time and money with the additional benefit of improving data quality.

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Process Improvements for supplier invoice payments with Operational Savings.

00BlogTags: March, 17

The accounts payable department is a necessity for most enterprises – generally viewed as an operational cost – and therefore needs to be run as economically as possible. In an ideal world, the department would generate a high volume of invoices processed per person with short invoice posting times and have checks and balances to ensure high data quality.

Even with SAP ERP, the process of supplier invoice payment can be expensive, with many tasks requiring a lot of manual effort. Invoice posting is usually time-consuming. Process inefficiencies are often identified by intuition rather than with real supporting evidence.

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How Our Invoice Processing SMART Technologies Function

00BlogTags: March, 17

FIS develop a suite of SMART technologies that can be utilised to improve processes for organisations with SAP – irrespective of their industry category. From software that provides simplified Master Data Maintenance to technology plugins that assist with internet shopping, the software is designed to simplify and automate existing business processes.

FIS/edc is an FIS SMART technology that is designed to streamline invoice and accounts-document processing in SAP standard. FIS/edc works in conjunction with the OCR Invoice Reading Software, FIS/fci, providing an automated and more economical method of processing accounts-documents in SAP ECC.

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Organisations That Can Benefit From FIS/edc

00BlogTags: February, 17

FIS/edc is a SMART technology is engineered to streamline and improve the efficiency of a business’ document processing. The plugin is fully integrated into the existing SAP GUI environment, meaning that there is a reduced requirement to train employees already familiar with SAP.

The software comes with a range of benefits that can have a positive impact on a variety of industries and their business operations. FIS/edc is installed onto the same IT architecture as SAP, however no modifications to SAP standard will be needed in order for the plugin to function.

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FIS SMART Technologies Combine To Make SAP More Efficient

00BlogTags: February, 17

The range of FIS SMART technologies are all designed to improve the effectiveness and efficiency of SAP processes, with FIS/edc designed specifically for streamlining an organisation’s invoice management procedures.

FIS/edc and FIS/fci are two such SMART technologies, working together to improve the effectiveness and productivity of SAP ERP.

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The Toolsets Available With FIS/edc

00Blog January, 17

FIS/edc is designed to improve the efficiency of invoice and statement processing for organisations that run SAP ECC. The plugin is seamlessly integrated into the existing SAP ECC environment, and significantly reduces the need for manual data entry and human intervention meaning that invoices are posted more economically than with the SAP standard.

FIS/edc comes with a range of benefits through its automation of supplier invoice processing, such as saving businesses valuable time and money, as well as increasing the quality of data that is being exported into SAP. The software works alongside FIS/fci to check and validate invoice data prior to a “posting attempt in SAP.

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How SAP Standard Processes Are Streamlined With FIS/edc

00BlogTags: January, 17

The existing SAP standard procedures involve a large amount of human interaction, time and money when it comes to processing invoices and scanned documents. FIS/edc is a plugin that works within the current SAP environment, and streamlines the invoice management experience so that businesses can operate more efficiently.

FIS/edc is one of a number of SMART technologies developed by FIS and offers additional functions to simplify SAP processes. Installing FIS/edc comes with a range of benefits that could change the way SAP is operated, these include:

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How FIS SMART Technologies Fit Into Your SAP Processes

00BlogTags: December, 16

FIS offer a variety of SMART technologies which are fully integrated into SAP standard and offer additional functions to improve existing business processes. Over 100 technologies have been developed by FIS, and each one is designed to switch faultlessly between the SAP atmosphere and the FIS software.

Amongst the technologies offered by FIS are software for Internet Shopping Solutions, Simplified Master Data Maintenance and Automated Invoice and Document Processing. A major benefit of these SMART technologies is that no modifications to SAP standard will be required, and they are intended to fine tune the processes already existing within SAP.

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The Processes Behind FIS/edc

00BlogTags: November, 16

FIS/edc is a SMART technology that is used to automate, and efficiently process documents such as invoices, vendor statements, sales orders and payment advice notes with minimal human intervention. The software can save an enterprise time and money, as it reduces the need for manual data entry, and provides accurate and reliable results.

FIS/edc is designed to securely and reliably deal with processing scanned documents, emailed attachments and EDI invoices, and it is deeply integrated with SAP ERP. The technology plugins are designed to make SAP processes more effective and economical.

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Increasing The Productivity Of Existing SAP Processes

00Blog October, 16

The manual processing of supplier invoices can be time consuming and expensive, meaning that businesses are using up time that could otherwise be spent in a more productive capacity. Businesses are continuously exploring new methods to make their procedures more efficient, in order to reduce operational costs whilst not compromising on the quality of outcomes. Improvements in business processes and making them more economical is a strategic vison for all enterprises.

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How Can Technology Be Utilised to Read Supplier Invoices and Other Financial Documents

00BlogTags: August, 16

In any business process within an organisation, there is always a drive to make procedures more efficient, more effective, reduce operational costs and improve outcomes. The same drivers can be applied to the task of manual keying and data entry tasks, when processing supplier invoices into an organisation’s Financial / ERP software.

Previously, an administrator would manually copy and key-in the relevant information from a physical paper invoice into an ERP or Financials software. This task can be quite labour-intensive and likely to incur human errors.

Some larger invoices with many pages and several invoice lines can be very time consuming to administrate.

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Invoice Reading Frequently Asked Questions: Part 2

00BlogTags: August, 16

Q: We receive an increasing number of invoices via email as attachments, do we have to print these and then scan – it sounds like a lot of work?

No, FIS/fci can take the attachments and process them without the need for scanning. This is an ideal solution because invoice data can be extracted without any human intervention.  In addition, the invoices are normally created directly from an ERP system and this makes the reading of the invoice data easier as fidelity and accuracy is not lost through the scanning process.

Q: What about recognition rates, how many invoices need manual corrections?

There can be a large variance in recognition rates and this is largely down to factors such as whether header (i.e. supplier, PO number, invoice number, total net etc) or lines (description, unit cost, number of units, net cost of line etc) are required. Typically rates of 80 – 90% are common. The knowledge database always improves the recognition rates from the initial free-form recognition methods.

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Invoice Reading Frequently Asked Questions: Part 1

00BlogTags: August, 16

Q: The data on the supplier invoices is different for every supplier?

FIS/fci is tuned to search for the required invoice data for every supplier – irrespective of the layout. The “Freeform Recognition” software works irrespective of different invoice layouts for each supplier.

Q: How does the software know that the document is an invoice?

One of the first checks the software performs is to identify if the word invoice (or a translation of the word invoice – facture, fattura, faktura, rechnung etc) is present. The system is also able to recognise different company codes from a reference file from the ERP system.

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Simplifying and streamlining invoice processing with SAP

00BlogTags: , August, 16

The FIS/edc plugin is an add-on technology to SAP standard that is engineered to streamline the processing of supplier invoices, ensuring that invoice data is more accurately read whilst simultaneously reducing the overall cost of the process.

The FIS/edc solution provides intelligent processing from start to finish, significantly diminishing the degree of human intervention – taking the cost out of the process.

For invoices with agreement with the SAP data no manual checking is necessary and the invoice will be posted automatically. The system also flags any deviations between the vendor invoice data and the SAP invoice data (PO and Goods Receipt) including variations of price, quantity and deliveries.

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