FIS/edc – electronic document centre

Introduction

FIS/edc (electronic document centre) is a SMART technology that is used to automate, streamline and efficiently process documents such as invoices, credit memos, sales orders and statements with minimal human intervention.  FIS/edc considerably reduces manual tasks and eases pressures on the accounts staff at month-end closing.

FIS/edc (electronic document centre) processes may work with existing SAP transactions to create savings as documents are processed automatically and queries are handled more efficiently than with SAP ERP standard.

The applications are installed on the same IT architecture as SAP ERP – and no modifications to SAP standard are required. FIS/edc references the real-time SAP database and also includes additional functions and simplified processes designed specifically for the accounts team and approvers.

FIS/edc (invoice monitor)

The FIS/edc (invoice monitor) is normally paired with automated data entry application, FIS/fci, to facilitate the posting of a high percentage of invoices in SAP ERP without the need for involvement of the accounts team, resulting in an unmatched blind-booking rate. The application is further enhanced with the FIS/fci Email reader – which eliminates the need for printing or scanning invoice attachments.

The invoice data for PO-related invoices is compared to the open-PO data and the receipt data from SAP at item line level. A match – within tolerance – allows invoices to be posted automatically.

Non-matched invoices and the FI (i.e. PO exempt) invoices are distributed within FIS/edc.

Customising

The Customising toolset provides rules and decisioning tables for all “parked” invoices. Customising facilitates the directing of invoices to AP users (i.e. via worklists) and approvers (i.e. via approval workflow) depending on the configuration and settings. The customising tables can be modified and re-configured to synchronise with new business rules, processes and people.

Reporting

FIS /edc provides a comprehensive reporting suite to provide information for the AP team. The reports are generally used to identify issues with vendors (i.e. non-matched MM) and colleagues (i.e. time taken to approve an invoice) as well as measuring invoice volumes and straight-through booking rates.

Parked Invoices

The screens are typically used to view “parked” invoices by the AP team and to review their status within the workflow process. A total value for both the MM and FI invoices – generates an accruals report automatically detailing outstanding invoices with the corresponding currency.

The detail screen for MM invoices is generally utilised to highlight the discrepancies between the vendor invoice data and the SAP invoice data (i.e. Open Purchase Orders and Goods Receipt lines). Functions allow the indication of only unmatched lines on the invoice and the ability to switch between the invoice image and the invoice data (i.e. the invoice data read by FIS/fci).

Approval Workflow

FIS/edc supports several workflow functions including FIS Web Dynpro (i.e. an approval workflow application presenting invoice data within SAP’s proprietary web-technology) which allows approvers to action the invoice with forwarding and account assignment functions.

Goods Receipting of the invoice can also be actioned via the FIS Web Dynpro workflow.

Fiori Apps

Approvals may also be completed from mobile devices and desktops via the SAP Fiori app. The solution provides a simplified interface for tablets, smartphones and desktops.

Smartphone_Fiori

Summary

For organisations:

  • Wishing to automate the payment process and make savings when booking invoices into SAP
  • Requiring a substantial increase in data quality for supplier invoice data
  • With a substantial SAP ERP investment – looking to tune the payment processes and make savings
  • Reduce the degree of manual keying and data entry within the current payment processes

Alternative to:

  • Standard SAP ERP module
  • Physical movement of financial documents
  • Manual keying of data with no validation checks

Technologies:

  • Flexible import of invoices via OCR and EDI
  • Line Matching (MM) of Invoice data with SAP data – PO and GR
  • Automatic Account Assignments
  • Workflow Options using Web Dynpro or Fiori apps
  • Reporting Tools to identify issues and bottlenecks for further process improvements
  • Transparency and history audit for each invoice
  • Deep SAP ERP integration – worklists for AP users
  • Presentation of EDI transactions as a PDF

Benefits:

  • Higher productivity of AP team members
  • High blind booking rate – particularly for emailed invoices
  • Efficient interrogation tools for exceptions / query management
  • High financial return on investment
  • AP team directed to more value-added work as FIS/edc automates labour intensive tasks