Optimize your Accounts Payable area thanks to VIM

Invoice management can be a thankless task if it is not given the appropriate tools. Papers that flood the tables and end up being lost, suppliers that get annoyed -with good reason- because they charge late and talented people losing their time and motivation in repetitive tasks with little value. These are typical problems of accounts payable departments.

We have good news for you and that is that all of that is a thing of the past thanks to VIM. If you have heard something about this tool, but you don’t know what it is or how it can help you, this post is for you. As VIM experts, we want to bring you closer to the benefits of a solution that will surely be a before and after in the processes of your accounts payable area.

VIM is the acronym for “Vendor Invoice Management” and now you will understand why its demand has increased in recent years. It is a vendor invoice manager from OpenText™ whose purpose is to process invoices in SAP® (also in S/4!) without human intervention, by reducing it to the tasks that really add value. Sounds good, doesn’t it? Well, keep reading, because there’s more.

VIM helps us throughout the process, from the filing of the invoice, if it arrived on paper, to its posting and release for payment, through the approval flows, which can be made from anywhere in the world thanks to its mobility integration with Fiori.

This solution was created to provide an answer to the classic problems encountered by the accounts payable department of any company, adding greater visibility and control to the process.

How does VIM improve your company’s accounts payable area?

  • REDUCES PAPER USAGE: forget about the chaos of papers on the tables without knowing the status of each bill. Thanks to the VIM solution, together with its certified digitalization approved by the AEAT, you will be able to scan the invoice, file it digitally and forget about paper (and even destroy it).
  • GLOBAL VISION OF THE BUSINESS: get a global vision of your business and the status of the invoices received. Identify if there are any bottlenecks and make your expense planning and cash flow forecasting thanks to unpaid invoice reports.
  • STANDARDIZED PROCESS: VIM allows you to have a standardized process flow throughout your company or group of companies. It applies the automations and controls in a standardized way, and controls that the defined internal procedures are followed and that the regulations of each country are complied with.
  • AUTOMATED AND INTEGRATED PROCESS: the process is automatic and integrates seamlessly with your current SAP® accounts payable area, reducing processing times and associated costs.
  • BETTER RELATIONSHIPS WITH YOUR SUPPLIERS: you will be able to pay your invoices on time and inform your suppliers of their status at all times through a Fiori application. No more calls with the typical question: “How’s my invoice?.

Do you realize the potential that VIM has to improve the management of your incoming invoices?

In future posts we will continue to share brilliant solutions from OpenText™ that make digital transformation a reality.

Health and good technology.