Maintenance and improvement services to increase business values for our clients in the LatAm region.
- How do we obtain visibility into all AP related liabilities?
- How do we reduce penalty interests owed to vendors due to expired payment deadlines?
- How can we get payments out in time and still comply with the associated regulatory requirements?
- How do we obtain visibility into which invoices have been received across departments and how do we obtain control over time-to-payment?
- How do we leverage automation to save through FTE reduction?
There are many barriers to enabling efficient Accounts Payable (AP) operations. These include lack of standardization for how invoices should be processed, manual labor intensive processes that are mainly paper-based and prone to human error, and information that is inputted into fragmented stand-alone systems that have no workflow and are not integrated with General Ledger and Account Receivables. Couple this with the largest obstacle that MNC’s face with doing business in Latin America in meeting the very complex regulatory compliance requirements needed to operate in the region (For example, NF-e Compliance for Goods or Services in Brazil) and it can be quite an onerous task for even the most sophisticated of companies.
Origen recommends the use of the SAP Vendor Invoice Management (VIM) solution that uses the SAP Business Workflow tool to run predefined invoice workflow processes. Using a company’s own business rules, the application systematically manages the entire process from paper/fax or electronic incoming invoices all the way through to payment.
By implementing SAP VIM, a company can optimize the entire invoice-handling process through automation by optimizing the process of receiving, managing, monitoring and routing invoices and related documentation.
With VIM, invoices are processed more efficiently and quickly. The right people collaborate through a secure, easy to use interface to resolve problems, obtain invoice status, check purchase order numbers, approve invoices and more.
The optical character recognition software (OCR) uses the most advanced document and character capabilities available and virtually eliminates human intervention in the invoice capture stage for invoices received as paper or attached to e-mails.
- Automate invoice data extraction with OCR
- Manage the review and approval process
- Leverage designated workflows
- Automate invoice routing and sorting
- Generate reports
- Drill down to invoice information
- Enter invoices from any location
- Classify invoices automatically
- Monitor status and notification
- Make all invoices electronic
- Approve invoices everywhere
- Collaborate and resolve disputes
Origen SAP VIM Advantages
By leveraging SAP® Vendor Invoice Management, Origen enables organizations to maintain compliance and reduce operation time, human failure and costs by allowing them to:
- Extract the vast majority of invoice data quickly, reliably, and automatically
- Handle controlled and automated exceptions; aging, escalation and reporting; resulting in reduced cost per transaction.
- Shorten the implementation time and reduce deployment costs, by using predefined workflows with robust and extensible baseline functionality.
- Designate workflow steps to sort and route invoices based on user roles, authorization rules, and predefined timelines.
- Access applications, content and history using an intuitive, graphical dashboard with buttons that drill down into the original invoice image, purchase orders, goods receipt, and invoice information.
- Monitor where invoices stand in the reconciliation process and notify vendors of payment exceptions to speed issue resolution.
- Initiate and respond to questions and issues related to problem invoices without leaving the application.
Origen approach is based on in-depth solution expertise and leveraging extensive implementation knowledge to design an optimized and automated solution utilizing SAP solution as the preferred approach. We have the skills, people, processes and experience required for a seamless SAP VIM deployment.
Origen has dedicated SAP Centers of Excellence in Latin America and brings years of regional experience to the table. Our track record for “rescuing” challenged projects along with our collaborative approach to project and risk management culminates in faster and better results for our customers.