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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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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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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