VIM - A 21st Century Tool for Your Invoice Needs
A streamlined Vendor Invoice Management solution can assist when it comes to accelerating your business processes. A VIM system can help support the adaptation to the hyper scaled nature of modern business.
Accounts Payable (AP) is a fundamental element of any organization supply chain. Adapting this simple business process to today’s modern hyper scaled business processes can be challenging. This is mainly due to the speed and geographical spread of today’s organizations that operate in a fast-changing technological landscape.
Simplify Processes – Deliver Faster Returns
Vendor Invoice Management (VIM) by OpenText is a strong tool for your invoice processing needs. Receiving invoices, paying them on time, and following legal and tax requirements are fundamental to an organization’s success. If not processed promptly or if invoices are incorrectly entered, it can have significant implications. For example, it may impact cash flow, dissatisfying customers and suppliers and it can cause process delays.
Therefore, a powerful out-of-the-box solution is a key to improving and maintaining excellent vendor relations. In addition, VIM helps simplify your infrastructure, streamline your finance processes across departments, and ensure everything is paid on time.
Vendor Invoice Management by OpenText for SAP Solutions
Watch this short video to get to know more about vendor invoice management solution by OpenText for SAP and how it can help you with your invoice processing.
With VIM You are Always in Control of Your Information
Day-to-day business operations move steadily towards automated methods. VIM helps to improve efficiency and streamline document-centric processes. Its enhanced machine learning and artificial intelligence (AI) capabilities can help to automate the processing of SAP-related documents fully. Through automated capture, it can digitize incoming paper documents. In addition, it is securely storing data within its cloud system, integrating and collating information from across the entire organization to be readily available.
VIM is Constantly Learning to Support Your Business Better
Vendor Invoice Management by OpenText is constantly evolving and building its knowledge of how it can effectively support your business finance tasks. This also applies to the implications into other areas of a business where the exact needs apply. This is all possible because of the latest advances in AI, machine learning algorithms, and robotic process automation (RPA) and conversational AI support.
VIM complies with pre-configured roles, rules and actions that are embedded into the system of record. This helps optimize invoice flows, prioritize and automate routing, approval, and payment processes to ensure everything is paid on time. As a result, it is eliminating inefficiencies and improving your customer experience.