How EIM Improves Financial Management
Today's economy requires optimizing the cash conversion cycle while maintaining control and compliance as a component of financial transformation. As companies implemented SAP as part of the transformation, they look to process optimization in financial processing to drive bottom line profit.
Process optimization is focused on revenue generation and payments. Fast accurate billings increase revenue through on-time payments. Dispute handling creates additional information requiring time to capture, store and access it resulting in decreased revenue.
On the payables side specialists spend significant time with manual effort related to data entry in complex transactions, compliance and communication involving invoice exceptions resolution. As a result companies have high risk of non-compliance, overpaying and missing discounts.
Finance transformation also relates to organizational changes and technology innovations: Global business services (GBS) provide standardized services enterprise wide – requiring efficient workflow routing and collaboration. On the technology side, electronic invoice delivery is evolving to become mandatory in many regions (primarily for B2B, B2G but also B2C); customers and suppliers expecting a consumer like experience to track invoice and payment status and the lines of business expect Finance to provide easy to use approval and reporting applications – available on their desktop and mobile devices.
Let us show you how OpenText EIM bridges all the gaps and transforms "good enough" finance processes into the extraordinary!
ECM for Excellence in Financial Management Processes
ECM for SAP Finance & Procurement
Extending SAP® capabilities is a key aspect of advanced Enterprise Content Management
Reduce risk – Invoice Management
The combination of upcoming regulations, expanding global supply chains, disconnected organizational processes and hard-to-access internal information silos significantly complicates the invoice management process for today’s companies. The right combination of invoice input channels and the right level of automation and reporting decides about the success of finance transformation.
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Reduce time and effort costs – Travel Receipts Management
If your company is like most, you keep a close watch on travel budgets, policies, and spending. Now you can gain even tighter control by streamlining the capture, management, and assignment of travel-related receipts integrated with the SAP Travel Management application.
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Reduce disputes – Invoicing
Customers expect fast and informed interactions. Invoices need to contain all relevant details, sometimes require additional attachments and most importantly need to be 100% accurate. If that’s the case, customers dispute less and pay on-time. Sending invoices electronically (for example attached to an e-mail) simplifies processing even further.
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FiServ Webinar:
Case study: The Industry is Evolving – and Digital Transformation is at the Forefront. Don’t be Left Behind!
Learn how Fiserv - a global provider of financial services technology to finance and insurance institutions – automated Accounts Payable using document imaging and workflow. The imaging solution leveraged Open Text VIM as the foundation tool. Today, an integrated imaging and approval workflow solution provides access to approving managers, accounting, tax and others operating teams.
Watch Now ≫Webinar on Demand:
Case study: How SABIC standardized global invoice processing for greater control and accuracy
Attend this webinar to learn how SABIC, a giant petrochemicals manufacturer with operations in over 40 countries, with a global workforce of over 40,000 employees, embarked on a project to standardize a single global process for handling their invoice processing. Hear first-hand from SABIC about their selection process, change management, implementation, lessons learned, and key successes
Watch Now ≫Featured Webinar On Demand:
"OpenText & Ciber Webinar: "Closing the Loop – Bridging the Gap between Operational and Strategic Procurement"
Featured Webinar:
3 Simple Steps to Optimize Order-to-Pay
February 27th, 2014 - 3pm CET