SAP Invoice management (SIM)
For many organizations, the handling of incoming invoices is a costly manual process. Manual entry, time-consuming research, comprehensive communication with the supplier, requests for additional communication from multiple parties, manual routing and follow-up on unpaid invoices are all aspects that consume a lot of time.
To resolve these types of problems, SAP has included a standard solution in its product portfolio called SAP Invoice Management (SIM). SIM helps to streamline invoice processing and minimize risks. It helps Accounts Payable (AP) to better structure the processes involved in the creating, managing, monitoring and routing of invoices within the organization. Further benefits include achieving payment terms, improving productivity and optimizing cash flows.
SAP Invoice Management, also known as OpenText Vendor Invoice Management (VIM), consists of the following components:
- SAP ICC (optional) for document recognition;
- Document processing: the (automatic) indexing of billing information and the creation of the SAP document;
- Invoice approval: the approval and posting of non-purchase order-related invoices;
- Exception handling: solving problems with indexing or posting an invoice;
- Approval portal: the Web version of the SIM approval screens;
- Fiori apps: a.o. approval of invoices
- SIM reports/analysis: the standard online reports that are included with SIM.
The scan client and content server are not covered by SAP Invoice Management, but are necessary for the process.
For the implementation of SIM Avelon has a partnership with SAP and Open Text. Avelon has already done several successful implementations of SIM. The success of these implementations is largely attributable to the consultants of Avelon who, working in the field of SAP invoice processing and workflow, have successfully completed many projects. Avelon can rightfully be called a specialist in this area! Avelon knows like no other the problems, opportunities and challenges you may face.
Based on this knowledge and experience, Avelon has developed a configured solution: SIM READY TO RUN. By using this solution, the implementation time is substantially reduced and you are assured of a proven service.
SIM READY TO RUN gives you access to extensive documentation such as a schematic representation of the checks during registration, booking and approval and the possibilities that different users have in the processes. SIM READY TO RUN also offers the possibility to approve invoices via an SAP Fiori App.
Through demo films, test plans and training materials, users are supported to quickly get to know the possibilities of SIM. Specifically, SIM READY TO RUN provides you with the following components:
- Standard Project approach with clear activities and division of tasks;
- Configuration document;
- Visios with process flows;
- Test scripts;
- Authorization matrix;
- Training material.
You no longer have to reinvent the wheel and benefit optimally from all the possibilities offered by SAP Invoice Management. View the demo here for an overview of the SIM functionality and the Avelon proposition.
SAP Invoice Management also has a prominent role within S / 4HANA Finance (actually the new name of Simple Finance). For example, the first 30 seconds of this video is 100% SAP Invoice Management functionality. This functionality is already available for organizations whose SAP Business Suite is not yet running on HANA.
See here for more SAP information about SAP Invoice Management.
Do you have a need to discuss whether and how your organization can benefit from the possibilities that SAP Invoice Management offers? Please feel free to contact us about this subject. We also take care of a demonstration or presentation so that you can see what this standard SAP solution can offer.