Solutions

Supplier Invoice Management

Automate supplier invoice processing to maximize working capital

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64%
Digital world class finance organizations deliver 64% lower transaction processing cost as a percentage of revenue[1]

Overview

Globe surrounded by international currency symbols

Accounts Payable is responsible for processing and paying all incoming supplier invoices in a timely manner. Invoice processing can be an intense, labor-driven, paper-centric process fraught with data-keying errors, exceptions and inadequate internal controls. With many manual touch points within the invoice life cycle, exceptions prevent on-time payments.

Supplier Invoice Management solutions automate the process, from receipt through posting, reduce costs and offer detailed oversight of the entire Accounts Payable landscape.

Key benefits

Impact business and achieve better results.

  • Maximize working capital

    Process supplier invoices faster to take advantage of early payment discounts more often and strengthen relationships with suppliers.

  • Automate invoicing

    Eliminate time-consuming manual tasks with automated, touchless invoice processing, from receipt to matching to posting.

  • Provide digital supplier experiences

    Allow suppliers to view and retrieve orders and respond electronically.

  • Obtain liability insights

    Manage working capital and plan upcoming workloads with real-time reporting of outstanding liabilities.

  • Reduce process inefficiencies

    Identify bottlenecks in processes, take informed action and monitor improvement over time with collected metadata.

Business impacts

  • Invoicing mandates

    Many countries now mandate e-Invoicing processes that connect to government portals and can interpret digital document formats. Companies processing manually will be left behind and unable to compete globally. Stay compliant and competitive.

  • Automated invoice processing

    Accounts Payable teams strive for early payment discounts to save the business money. Manual touchpoints and exception processes can cause payment delays and duplication, losing discounts and costing money. Automate invoicing and maximize resources.

  • Visibility across the entire process

    Organizations must compare open orders to open liabilities to understand working capital and predict workloads. Limited liability insights increase the risk of inaccurate balance sheets and supplier overpayments. Digitize and analyze every invoice.

  • Collaborating with other teams

    Invoices rely on several teams collaborating to keep the process moving. With manual and paper-based processes, invoices can easily become lost or misplaced, delaying resolution and payment. Automatically route invoices via centralized inboxes.

Leaders trust OpenText

See how customers are succeeding with Supplier Invoice Management.

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DIC Asia Pacific logo

DIC Asia Pacific drives accounts payable automation with OpenText

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Michelin achieves flexibility and scalability to support their global operation

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Old World Industries powers its resilient business engine with OpenText

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Foodstuffs North Island logo

Foodstuffs North Island digitizes invoice processing with OpenText to drive Accounts Payable efficiency

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Explore the components of the solution

Professional Services

OpenText Consulting Services combines end-to-end solution implementation with comprehensive technology services to help improve systems.

Supplier Invoice Management resources

OpenText Active Invoices with Compliance – Short Demo

Introduction to Active Orders

Watch the video

Getting the most from Vendor Invoice Management on SAP S/4HANA

Read the blog

Rethink invoice automation with a complete e-Invoicing solution

Read the eBook

Footnotes