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.

OCR Reading

An advanced character reading technology and is employed to extract data from a supplier invoice with minimal human intervention. The software is designed to lift relevant data automatically through advanced OCR algorithms – pre-conditioned to locate the pertinent invoice data. The data goes through rigorous validation checks to ensure that the information is accurate – significantly reduces the probability of human error. The pre-checked data will then be passed into the invoice posting, matching, assignment and approval workflow application – FIS/edc Invoice Monitor.

The automated process saves businesses both time and money, as human intervention would only be required if corrections are needed to complete the invoice data. This means that businesses are able to employ smaller teams for data keying and assign more time for supplier relationship building.

FIS/edc Invoice Monitor

FIS/edc Invoice Monitor is designed to streamline and improve supplier invoice processing within SAP ERP. It is fully integrated into the existing SAP environment and the invoice monitor works with existing SAP modules. This means that the AP team are working in a familiar SAP environment. Once key advantage of FIs/edc is that training requirements are kept to a minimum.

For PO related invoice (MM) – FIS/edc automatically identifies any discrepancies outside of the tolerance limits – between the incoming supplier invoice data and SAP PO and Receipt data. One of the key advantages of adding FIS/edc to SAP standard process is the exception handling – invoices are processed much more quickly and that businesses will significantly reduce operational costs.

Outcome

The automated process of extracting the relevant data and then posting into SAP will reduce operational costs, and will ensure that the processing of supplier invoices is more efficient and effective.

If you want further information on how our technology can help save you money on your SAP invoice processing, then please get in touch with our dedicated team.

Phone: 03333 208 030 | Email: info@fis-uk.eu