Invoice Processing with Vendor Invoice Management (VIM)
Use SAP ERP to optimize accounts payable processes
Usually, invoice processing for most companies requires manual effort to a massive degree. This, in turn, ends up causing a drain on internal resources. This affects the vendors involved as well. We’ve noticed over the years that manual keying of invoice data and resolution efforts involve time-consuming historical research, vendor communication, documentation of the process, additional information requests pertaining to multiple parties, a tedious manual routing process, and finally, an extremely labor-intensive process of monitoring and providing update reports on the status of unpaid invoices.
This is where SAP ERP steps in. It enables you to streamline your entire accounts payable (AP) operation with robust VIM software. It works by simplifying, creating, managing, monitoring, and routing purchase orders and invoices.
1. The benefits of using SAP ERP are manifold. It helps you boost productivity and revenue. This happens by automating routing, approval, and payment processes.
2. It also Improves the cash flow. This happens when the workflow is streamlined, reminders are set, and the payment cycle is shortened.
3. With SAP ERP, you’d be able to ensure accurate, on-time financial reporting with automatic access to AP information.
4. Additionally, you get to promote regulatory compliance with a well-managed AP process using preconfigured rules.
5. Feel free to enhance vendor relations with better access to current, accurate vendor information. We enable businesses to accelerate AP operations all over the enterprise level with SAP ERP.